Barnes & Noble Sells More Books & other US news

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Barnes & Noble reported third quarter earnings Tuesday and, consistent with their holiday sales update, business increased at the retail stores. At $1.494 billion, store sales were up 2 overall; same-store sales rose 2.8 percent, and the company said "retail core" comparable sales, excluding devices, accessories and warranties, rose 4.2 percent compared to a year ago. (Those increases are all slightly smaller than the growth reported for the nine-week holiday period on its own) BN.com sales rose 32 percent to $420 million, on the rising Nook business but with "a decline in online physical product sales"; college sales slid, "due to a shift from selling new and used textbooks to lower priced textbook rentals." Total sales for the quarter of $2.439 million were up 5 percent from a year ago.

CEO William Lynch says in the release that "our traffic and sales in stores were the highest we've seen in five years." He reports that "physical book sales at our stores increased more than 4 percent over last year, and our merchandising changes in our juvenile business and our toys & games department experienced double-digit revenue growth." The Nook business continues to grow "and according to some of the largest US publishers, we maintained or slightly gained share in the eBook market during the third quarter."

The overall Nook business grew 38 percent to $542 million, and Nook device sales rose 64 percent. Digital content sales was up 85 percent on a comparable basis. (When reporting the Nook business on its own, the company reports the full consumer price of agency ebooks rather than just the commission, though in their official income statement they only book the commissions.)

In the conference call with analysts, executives underscored the success of the BN stores. Mitchell Klipper said "the landlords love us now more than ever" and "are just not letting us leave." He said most of their leases are being renewed and "the rents are coming down" at 95 of every 100 stores. He expects that trend "to continue for the next two or three years."Release

People: Coady Leaving Picador As Part of Editorial Restructuring

President and publisher of Picador and editor-at-large at Macmillan Frances Coady will be leaving the company as part of an editorial restructuring of the paperback imprint, according to a company-wide memo sent by ceo John Sargent late Thursday to staff (and confirmed to us Friday.) "Over time," Sargent wrote, "the Picador list has largely gravitated toward FSG, and more recently Holt. At the same time, we have seen shifts in the distribution of Picador paperbacks. The structural/financial model, constructed in another time, has become less meaningful. So we need to change, and to reinvigorate Picador."

As a result, going forward Picador staff will report to FSG publisher Jonathan Galassi and Holt publisher Steve Rubin in what Sargent said would "clarify hardcover/paperback editorial responsibility for key titles" and give the originating publishers "greater control" and Picador a "stronger marketing focus." Sargent added that he "cannot stress enough that SMP books can continue to be featured in Picador when it makes sense. In fact I hope these changes will make that more likely, not less."

Coady joined Picador in 2000 and began acquiring hardcover titles for Holt (under the Frances Coady Books imprint), Metropolitan, and FSG in 2007. She has published authors including Naomi Klein, Richard Powers, Paul Auster, Siri Hustvedt, Andrea Levy, Joseph O'Connor, and Alan Bennett.

Coady's last day at Macmillan is March 2, after which she will work with Macmillan in an independent freelance editorial capacity "while also being free to pursue new publishing projects here and in the UK."

Jeremy Lin Will Wait for A Book Deal

Following unclear reports from earlier last week on whether or not there has been active solicitation for a book deal for New York Knicks sensation Jeremy Lin, over the weekend there was a clarifying statement from agent Richard Abate--who was working with Lin's management in preliminary fashion, but is not doing so now.

Abate said: "Earlier this month, Mr. Lin's representatives asked me to arrange meetings to explore the possibility of a book deal. As the frenzy surrounding Mr. Lin has escalated, his representatives wisely decided to postpone those meetings until they can approach the development of a book project with the thoughtful consideration it deserves."

Abate added that "Mr. Lin's representative are not entertaining book offers at this time, so I'm not currently acting on their behalf."

Hachette Wins Back Disney and Hyperion Distribution Business

Hachette has won back distribution for the Disney Book Group and Hyperion, which had moved to HarperCollins in 2007. Under the preliminary agreement between the parties, "the move to Hachette is contemplated to take place in Spring 2013." Hachette already distributes Disney's Marvel unit and that relationship has been extended as well. HBG took over Canadian sales and distribution for Disney in spring 2011 after the bankruptcy of HB Fenn.