O'Callaghan to Succeed Lucki at Houghton Mifflin Harcourt
Tony Lucki is retiring as CEO of Houghton Mifflin Harcourt and will be replaced by Barry O’Callaghan, chairman and principal shareholder of Education Media & Publishing Group, HMH’s parent company. Lucki took over as CEO of HM in 2003 and oversaw the integration of HM with Harcourt following the purchase of Harcourt.
Former Random House executive David Naggar is joining Amazon where he will be v-p of Kindle Content. In that role, Amazon said, Naggar will “be working with the team to continue building a massive selection of content in the Kindle Store.”
Naggar left RH at the end of 2007 where he was president of Random House Audio and also headed the Random House Information and Fodor's Travel groups. He joined the online media company iAmplify.com soon after as president.
Despite Big Loss, Marshall Confident of Borders's Future
by Jim Milliot
A series of one-time charges and lower sales lead to a loss from continuing operations of $184.7 million at Borders Group for the year ended January 31 compared to a loss of $19.9 million in the previous year. Total revenue declined 8.9%, to $3.27 billion. Sales fell 9.4% at the company’s superstores in the year, to $2.65 billion, and declined 14.7% at Waldenbook Specialty Retail, to $480.0 million. Comp sales were down 10.8% at the superstores for the full year, with book comps off 8.2% and non-book sales down 16.1%. Walden comps were off 5.1%.
by Jim Milliot
Book sales fell 2.8% in 2008, to $24.25 billion, according to estimates released Tuesday by the Association of American Publishers. Sales declined in eight of the 13 categories measured by AAP with the largest decline coming in the spokenword audio segment where sales fell 21%. The e-book segment had the strongest showing in the year with sales jumping 68%, but the estimated sales of $113.2 million represent about 0.5% of total industry sales.
The two trade hardcover segments had difficult years in 2008 with adult hardcover sales down 13% and juvenile sales falling 12.4%. Paperback did better, with the trade paper segment up 3.6% and juvenile ahead 6.4%. Sales in the mass market paperback segment, however, fell 3.0%. Religious book sales dropped 7.6%. Book club and mail order sales fell 3.4%.
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