Notes: Bookseller Bonuses; NEIBA Moves; AAP Sales
Booksellers interested in discount tickets for Joan Didion's play, The Year of Magical Thinking, mentioned here yesterday, should use the following link for information about the offer, especially if they plan to buy tickets at the box office: magicalthinkingonbroadway.com/offers.
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Barnes
& Noble has awarded bonuses to top executives based on results for
the fiscal year ended February 3. Under the company's 2004 Executive
Performance Plan CEO Stephen Riggio earns a bonus of $1.2 million; COO
Mitchell S. Klipper, $1.2 million; B&N.com CEO Marie J. Toulantis,
$975,000; chairman Leonard Riggio, $750,000; CFO Joseph J. Lombardi,
$360,000; and B&N Publishing president J. Alan Kahn, $330,000.
Half of the bonuses paid to the Riggios, Mitchell S. Klipper and Marie
J. Toulantis will be in the form of restricted shares of the company's
stock vesting in equal annual installments on the first, second and
third anniversaries of this past March 13.
As a result of meeting certain targets, Stephen Riggio, Mitchell S.
Klipper and Marie J. Toulantis were also awarded bonuses of $849,206,
$826,088 and $334,603, respectively. The amounts are equal to the
annual dividend they would have received from the shares of B&N
stock on which they haven't yet exercised stock options.
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The New England Independent Booksellers Association moved yesterday. Its new address is 297 Broadway, Arlington, Mass. 02474. News about phone numbers to follow.
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[Here's another gauge of January sales, which doesn't jibe with the Census Bureau's 1% drop in sales. But as we've noted, the Census Bureau excludes significant categories of book sales while the AAP represents figures supplied by member publsihers.]
Net
book sales by publishers reporting to the Association of American
Publishers rose 6.4% in January. The biggest gainers were in hardcover:
adult hardcovers rose 32.2% to $92.5 million and children's/YA hardcovers rose 18.4% to $39.9
million. University press hardcover sales rose 4% to $6.1 million.
Paperback sales were soft in the new year. Adult paperbacks dropped 11.7% to $97.7
million, mass market dropped 3.1% to $54.9 million and children's/YA
fell 18.1% to $23.9 million. University press paperbacks were the one
exception, rising 8.6% to $9.7 million.
Audiobook sales rose 21.2% to $11 million, and e-books rose 18.7% to
$1.8 million. Religious book sales rose 28.2% to $34.6 million.
Professional and scholarly sales rose 3.9% to $46 million while the net
el-hi basal and supplemental K-12 dropped 18.7% to $69.3 million.