Sales at the College stores declined $54.4 million, with comparable store sales down 5.6 percent, "primarily due to lower textbook sales." Sales from net new stores (new stores less closed stores) declined by $15.2 million, compared to an increase of $21.1 million in the prior year. MBS sales fell $15.9 million, or 11.8 percent, on "lower publisher rental penetration than anticipated, as well as lower net sales of traditional wholesale textbooks."
CEO Mike Huseby says in the announcement, "During the first half of fiscal 2019, BNED accomplished significant milestones in its continued development of the digital services and offerings the industry is demanding. While we are pleased with the improvement in consolidated net income, our focus is on investing in digital growth platforms and offerings for the future while also taking steps to preserve current levels of profitability and cash flow." The company said that its outlook for the full year is now "expected to be at the low end" of its guidance.
Ashley Vanicek has been promoted to PR specialist at Amazon Publishing, supporting Lake Union Publishing and Thomas & Mercer.
Mark Weinstein has joined Diversion Books as senior editor. He was previously an executive editor at Rodale Books,
Kate Atkinson will publish BIG SKY, her first Jackson Brodie novel since 2010 next year in June with Doubleday UK and Transworld.