In the third quarter ended June 27, revenue at Indigo Books & Music, Canada's largest bookseller, rose 1.6% to C$193.6 million (US$178.9 million), and the net loss rose to C$2.3 million (US$2.13 million) compared to a C$1.2 million (US$1.11 million) net loss in the same period last year.
Sales at Indigo and Chapters superstores open at least a year rose 1.4%, while comp-store sales at the smaller Coles and Indigo Spirit stores were up 0.8%. Sales at the company's online store, chapters.indigo.ca, fell 9.1% to C$19.1 million (US$17.65 million) after "the elimination of certain nonprofitable business."
In a statement, CEO Heather Reisman said, "Given the challenging economic environment, we believe these results highlight the resilience of our brands. In addition, the slight drop in bottom line results reflects our increased operating investment this year in both Pistachio and Shortcovers."
Shortcovers, launched in February, is a web-based digital download service that can be accessed via computer and many handheld devices, including the iPhone, Blackberry and Palm Pre. Pistachio is an eco-friendly paper, gift and apothecary retailer and wholesaler.
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Bookselling This Week wrote about two stores, Harleysville Books, Harleysville, Pa., and BookPeople, Austin, Tex., that "both have developed summer programs that regularly sell out and raise revenue." Go to camp here.
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A "thank you" book tour that the late E. Lynn Harris had planned for this fall will go forward despite his death last week. USA Today
reported that Harris wanted to meet "with fans in small cities to get
back to promoting his novels on a 'grass-roots level,'" according to
Karen Hunter, whose Pocket Books imprint will publish his novel Mama Dearest in September.
Instead,
a number of the author's friends, including Eric Jerome Dickey and
Kimberla Lawson Roby, will meet with local book clubs. "They want to
make his new book successful as a tribute to him," said Hunter. "I
would much prefer E. Lynn to be here. It's so sad when you know where
this man was going."
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Book trailer of the day: Violet by Tania Duprey Stehlik, illustrated by Vanja Vuleta Jovanovic.
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Ladies and gentlemen--and Man Booker Prize fans the world over--place your bets, please. The Guardian reported that "J. M. Coetzee's latest fictionalised memoir Summertime
is not even published yet, but the two-time Booker winner and Nobel
laureate has shot to the front of the race for this year's Man Booker
prize."
Coetzee tops the Ladbrokes board at 3/1, followed by
Sarah Waters (5/1), Colm Toibin and William Trevor (6/1), James
Scudamore (8/1), A.S. Byatt, Samantha Harvey and Adam Foulds (10/1),
Sarah Hall (12/1), Hilary Mantel and James Lever (16/1), with Simon
Mawer and Ed O'Loughlin trailing the field at 20/1.
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Effective August 15, Square One Publishers has become a primary book distributor for InnoVision Health Media, Boulder, Colo., which publishes books and professional and consumer magazines, including Natural Solutions: Vibrant Health, Balanced Living, on integrative medicine.
Early last year, Square One took on all health titles published by Vital Health Publications and Professional Books. Square One president Rudy Shur commented: "By aligning our own health book publishing program with these excellent titles, we are building our position as one of the most aggressively alternative health publishers in the country--and we're building it book by book."
Under the agreement, Square One will also publish a new group of health books as part of the Natural Solution Health Series. InnoVision Health Media was formerly distributed through Ten Speed Press/Random House.