Notes: Textbook Rentals; Nantucket's Anti-Chain Proposal
The Bellevue Community College bookstore, Bellevue, Wash., will begin a
modest textbook rental program this summer, a measure some college
booksellers are trying in an effort to help students upset by textbook prices. For
details on the program and a new Washington state textbook price law
that applies to public four-year schools, see today's
Seattle Times.
---
At the April 3 Town Meeting of Nantucket, Mass., residents will vote on a proposal to keep large chain stores out of the
historic downtown,
Bookselling This Week
reported. The town's planning board has endorsed an amendment to zoning
laws to that effect. The proposal needs a two-thirds vote to pass. New
England town meetings are unusually direct democratic occasions, usually held
annually, at which town residents can vote on a variety of measures.
---
Karl Kilian, owner of Brazos Bookstore in Houston, Tex., has become
director of programs at the Menil Collection art museum and has put the
store up for sale, Edward Nawotka reported in
PW Daily. If he
can't sell the 32-year-old store--which has an asking price of
$275,000-$300,000--Kilian will close it. The store specializes in literary
fiction and art books.
---
In October 2007, Barnes & Noble plans to open a store in West
Hartford, Conn., in Blue Back Square on Isham Road, facing South Main
Street and Memorial Road. The store will stock the usual nearly 200,000
book, music, movie and magazine titles and have a café.
---
In an interview with
Abebooks.co.uk., Julian Barnes, author most recently of
Arthur and George,
says that his favorite bookstore in the world is Powell's Books in
Portland, Ore., and that while he used to scour used bookstores for
titles in person, now "I tend to sit at home and order from Abebooks. I
love the feel of the globe-wide sweep and the airmail parcel a few days
later. . . . . But I would be very sad if secondhand bookstores died
out--the unexpected finds, the musty smell, the eccentrics who guard
their stock."
Notes: Textbook Rentals; Nantucket's Anti-Chain Proposal
B&N, Borders Results Please Wall Street
Released yesterday, Barnes & Noble and Borders Group's
fourth-quarter and full fiscal year results--reflecting the important
holiday season--were above analysts' estimates. As a result, B&N
stock rose 9.7% to close at $47.40, a 52-week high. During the day the
share price rose to $48.41, its highest level since the company went
public in 1993. In another sign of Wall Street enthusiasm, 2.5 million
shares of B&N changed hands, five times the usual trading volume.
Shares of Borders, which released results after the market closed, rose
in after-hours trading. During the day, it had climbed 2.5% to close
at $24.62.
Barnes & Noble
At B&N, sales for the year ended January 28 rose 5% to $5.1
billion, and net earnings rose 19% to $146.7 million. In the fourth
quarter, sales rose 5% to $1.8 billion, and net earnings rose 10% to
$123 million.
Sales at B&N stores rose 6% to $4.4 billion during the year and
rose 6% to $1.4 billion in the quarter. Sales at B&N stores open at
least a year rose 2.9% during the year. For the quarter, comp-store
sales rose 3.3%. B&N opened two stores in the quarter and closed
four; it now has 681 B&N stores.
B. Dalton mall store sales dropped 20% to $141.6 million for the year,
reflecting in part the closing in the fourth quarter of 23 Dalton
stores. Comp-store sales at Dalton rose 0.9% for the year. During the
quarter, Dalton sales dropped 18% to $50.1 million, and comp-store
sales rose 3.8%. The company now has just 118 Dalton stores.
Sales at B&N.com rose 5% to $439.7 million.
During 2005, B&N bought 7.7 million shares of its stock for $282.7
million, and bought another 1.6 million shares for $68.2 million in the
first quarter of 2006.
For the first quarter and full year, B&N said it expects
comp-store sales at B&N stores to increase in the low single digits.
"By every single important financial metric, 2005 was a great year for
the company," CEO Steve Riggio said in a statement. "Strong expense
controls and expanding gross margins drove record earnings. Our
comparable store sales grew 2.9% for the year without any advertising
expenditures or additional coupon promotions. Tight management of
inventories helped produce record operating cash flows."
B&N CFO Joseph Lombardi told Reuters that "there was really no
breakout adult fiction title this holiday season, so our backlist books
did particularly well. And those are profitable." He added that in
another difficult year for traditional music retailers, B&N's music
sales were better than most because it targets adult customers who
are still more likely to buy CDs than download music.
Borders Group
In the year ended January 28, consolidated sales at Borders rose
3.9%
to $4.03 billion, and net income dropped 23.4% to $101 million. During
the fourth quarter, consolidated sales rose 6.3% to $1.45 billion and
net income dropped 3% to $119.1 million. On an a per share basis,
earnings in the fourth quarter rose 9.9%, in part because of stock
buybacks.
"In the fourth quarter, we began to see the benefits of investments
made in Borders stores and we learned where capital is best deployed to
drive future returns," CEO Greg Josefowicz said in a statement. "This
year, we'll continue to invest, much as we did in 2005, with a focus on
our key book, cafe and gifts and stationery categories, and once again,
all of our growth will emerge in the fourth quarter."
At Borders superstores, sales in the fourth quarter rose 9.8% to $938.7
million, and sales at superstores open at least a year rose 2.5%.
During the period, sales of books at superstores open at least a year
rose 6% while music sales continued to decline, falling 11% on a
comp-store basis.
For the full year, superstore sales rose 4.7% to $2.71 billion, and
sales at superstores open at least a year rose 1.1%. The company added
nine superstores in the quarter and now has 473 superstores in the U.S.
In the fourth quarter, international sales rose 10% to $203.7 million
and for the full year rose 12.9% to $576.4 million. If the impact of
exchange rates is excluded, total international sales would have risen
17.6% in the quarter and 14.4% for the year.
International comp-store sales were up 0.9% in the quarter and 0.4% for
the year. Borders said that results abroad were "impacted by a
challenging retail environment in the U.K., which improved somewhat in
the fourth quarter." After adding five superstores in the quarter,
Borders has 55 locations outside the U.S.
In the Waldenbooks Specialty Retail segment, which includes Borders
Express outlets, comp-store sales dropped 2.7% in the quarter and 2.4%
for the year. Total sales dropped 4.9% to $312.3 million in the quarter
and 4.5% to $744.8 million for the year. Borders closed 27 of the
segment's stores in the quarter and 50 during the year, leaving 678
outlets.
During the year, Borders repurchased 11.6 million of its shares worth $265.9 million.
Borders predicted a larger loss in the first quarter of this fiscal
year partly because of the costs of the launch of its Borders Rewards
program and a new distribution center that opens in the second quarter.
In the first quarter, it expects comp-superstore sales to rise in the
low single digits, Walden's to drop and international to be flat or
down slightly.
B&N, Borders Results Please Wall Street
Media Heat: Knight Ridder Chronicler
This morning on Good Morning America: Markus Zusak, author of The Book Thief (Knopf, $16.95, 0375831002).
---
This evening on Larry King Live: Michael Flatley, author of Lord of the Dance (Touchstone, $24.95, 0743291794).
---
Tonight on the Tonight Show with Jay Leno: Macaulay Culkin, whose debut novel is Junior (Miramax, $22.95, 1401352340).
---
On the occasion of the sale of the Knight Ridder newspaper chain, this weekend NPR's On the Media talks with Davis Merritt, a 40-year veteran of the chain and author of Knightfall: Knight Ridder and How the Erosion of Newspaper Journalism Is Putting Democracy at Risk (AMACOM, $24.95, 0814408540).
Media Heat: Knight Ridder Chronicler
The Book Sense/NCIBA List
The following are the bestselling books at Northern California
Independent Booksellers Association stores during the week ended
Sunday, March 12, as reported to Book Sense:
Hardcover Fiction
1. In the Company of the Courtesan by Sarah Dunant (Random House, $23.95, 1400063817)
2. Intuition by Allegra Goodman (Dial, $25, 0385336128)
3. The Da Vinci Code by Dan Brown (Doubleday, $24.95, 0385504209)
4. Arthur & George by Julian Barnes (Knopf, $24.95, 030726310X)
5. Nightlife by Thomas Perry (Random House, $24.95, 1400060044)
6. The Two Minute Rule by Robert Crais (S&S, $24.95, 0743281616)
7. Love and Other Impossible Pursuits by Ayelet Gilbert Waldman (Doubleday, $23.95, 0385515308)
8. The Old Wine Shades by Martha Grimes (Viking, $25.95, 0670034797)
9. The Tenth Circle by Jodi Picoult (Atria, $26, 0743496701)
10. The March by E.L. Doctorow (Random House, $25.95, 0375506713)
11. The 5th Horseman by James Patterson and Maxine Paetro (Little, Brown, $27.95, 0316159778)
12. The Templar Legacy by Steve Berry (Ballantine, $24.95, 0345476158)
13. Murder in Montmartre by Cara Black (Soho Crime, $23, 1569474109)
14. The Last Templar by Raymond Khoury (Dutton, $24.95, 0525949410)
15. Labyrinth by Kate Mosse (Putnam, $25.95, 0399153446)
Hardcover Nonfiction
1. Marley & Me by John Grogan (Morrow, $21.95, 0060817089)
2. The Year of Magical Thinking by Joan Didion (Knopf, $23.95, 140004314X)
3. Freakonomics by Steven D. Levitt and Stephen J. Dubner (Morrow, $25.95, 006073132X)
4. The World Is Flat by Thomas L. Friedman (FSG, $27.50, 0374292884)
5. You're Wearing That? by Deborah Tannen (Random House, $24.95, 1400062586)
6. Blink by Malcolm Gladwell (Little, Brown, $25.95, 0316172324)
7. Eat, Pray, Love by Elizabeth Gilbert (Viking, $24.95, 0670034711)
8. Healthy Aging by Andrew Weil (Knopf, $27.95, 0375407553)
9. The Left Hand of God by Michael Lerner (HarperSanFrancisco, $24.95, 0060842474)
10. Misquoting Jesus by Bart D. Ehrman (HarperSanFrancisco, $24.95, 0060738170)
11. The Elements of Style by William Strunk et al. (Penguin Press, $24.95, 1594200696)
12. Team of Rivals by Doris Kearns Goodwin (S&S, $35, 0684824906)
13. Enrique's Journey by Sonia Nazario (Random House, $26.95, 1400062055)
14. Our Endangered Values by Jimmy Carter (S&S, $25, 0743284577)
15. At Canaan's Edge by Taylor Branch (S&S, $35, 068485712X)
Trade Paperback Fiction
1. Gilead by Marilynne Robinson (Picador, $14, 031242440X)
2. The Kite Runner by Khaled Hosseini (Riverhead, $14, 1594480001)
3. Snow Flower and the Secret Fan by Lisa See (Random House, $13.95, 0812968069)
4. The Mermaid Chair by Sue Monk Kidd (Penguin, $14, 0143036696)
5. Close Range by Annie Proulx (Scribner, $14, 0684852225)
6. Case Histories by Kate Atkinson (Back Bay, $13.95, 0316010707)
7. Brokeback Mountain by Annie Proulx (Scribner, $9.95, 0743271327)
8. Runaway by Alice Munro (Vintage, $14.95, 1400077915)
9. The Geographer's Library by Jon Fasman (Penguin, $14, 0143036629)
10. Snow by Orhan Pamuk (Vintage, $14.95, 0375706860)
11. Prep by Curtis Sittenfeld (Random House, $13.95, 081297235X)
12. Moloka'i by Alan Brennert (St. Martin's, $13.95, 0312304358)
13. Kafka on the Shore by Haruki Murakami (Vintage, $14.95, 1400079276)
14. Memoirs of a Geisha by Arthur Golden (Vintage, $14.95, 0307275167)
15. The Curious Incident of the Dog in the Night-Time by Mark Haddon (Vintage, $12.95, 1400032717)
Trade Paperback Nonfiction
1. In Cold Blood by Truman Capote (Vintage, $14, 0679745580)
2. Confessions of an Economic Hit Man by John Perkins (Plume, $15, 0452287081)
3. Collapse by Jared Diamond (Penguin, $17, 0143036556)
4. Night by Elie Weisel (FSG, $9, 0374500010)
5. *A Million Little Pieces by James Frey (Anchor, $14.95, 0307276902)
6. The Tipping Point by Malcolm Gladwell (Back Bay, $14.95, 0316346624)
7. Guns, Germs, and Steel by Jared Diamond (Norton, $16.95, 0393317552)
8. The End of Poverty by Jeffrey D. Sachs (Penguin, $16, 0143036580)
9. Zagat Survey: San Francisco Bay Area Restaurants (Zagat, $13.95, 1570067384)
10. The End of Faith by Sam Harris (Norton, $13.95, 0393327655)
11. Animals in Translation by Temple Grandin and Catherine Johnson (Harvest, $15, 0156031442)
12. The Devil in the White City by Erik Larson (Vintage, $14.95, 0375725601)
13. Rich Dad, Poor Dad by Robert Kiyosaki (Warner, $16.95, 0446677450)
14. The Glass Castle by Jeannette Walls (Scribner, $14, 074324754X)
15. Smashed by Koren Zailckas (Penguin, $14, 0143036475)
Mass Market
1. With No One as Witness by Elizabeth A. George (HarperTorch, $7.99, 0060545615)
2. Cold Service by Robert B. Parker (Berkley, $7.99, 0425204286)
3. Angels & Demons by Dan Brown (Pocket, $7.99, 0671027360)
4. The Closers by Michael Connelly (Warner, $7.99, 0446616443)
5. Skeleton Man by Tony Hillerman (HarperTorch, $7.99, 006056346X)
6. Ireland by Frank DeLaney (Avon, $7.99, 0060563494)
7. Hard Truth by Nevada Barr (Berkley, $7.99, 0425208419)
8. Rage by Jonathan Kellerman (Ballantine, $7.99, 0345467078)
9. State of Fear by Michael Crichton (Avon, $7.99, 0061015733)
10. Cat's Eyewitness by Rita Mae Brown (Bantam, $7.50, 0553582879)
Children's (Fiction and Illustrated)
1. The Miraculous Journey of Edward Tulane by Kate DiCamillo (Candlewick, $18.99, 0763625892)
2. The Pretty Committee Strikes Back by Lisi Harrison (Little, Brown, $9.99, 0316115002)
3. Goodnight Moon by Margaret Wise Brown, illustrated by Clement Hurd (HarperCollins, $7.99, 0694003611)
4. The Lion, the Witch and the Wardrobe (children's movie tie-in edition) by C.S. Lewis (HarperCollins, $7.99, 0060765461)
5. Fancy Nancy by Jane O'Connor, illustrated by Robin Preiss Glasser (HarperCollins, $15.99, 0060542098)
6. Zen Shorts by Jon J. Muth (Scholastic, $16.95, 0439339111)
7. Small Steps by Louis Sachar (Delacorte, $16.95, 0385733143)
8. Curious George by H.A. Rey (Houghton Mifflin, $6.95, 039515023X)
9. Eragon by Christopher Paolini (Knopf, $9.95, 0375826696)
10. Harry Potter and the Half-Blood Prince by J.K. Rowling (Scholastic, $29.99, 0439784549)
11. The Amulet of Samarkand (The Bartimaeus Trilogy, Book 1) by Jonathan Stroud (Hyperion, $7.99, 0786852550)
12. Don't Let the Pigeon Stay Up Late! by Mo Willems (Hyperion, $12.99, 0786837462)
13. The Runaway Bunny by Margaret Wise Brown, illustrated by Clement Hurd (HarperCollins, $7.99, 0061074292)
14. The Wright 3 by Blue Balliett, illustrated by Brett Helquist (Scholastic, $16.99, 0439693675)
15. Fairyopolis by Cicely Mary Barker (Frederick Warne, $19.99, 0723257248)
*ABA and Book Sense acknowledge the controversy surrounding the veracity of the contents of this book.
[Many thanks to Book Sense and the NCIBA!]
The Book Sense/NCIBA List