WH Smith total group revenue increased by 7%, to £1.9 million (about $2.4 million), for the year ending August 31, compared to the same period in 2023, the Bookseller reported. Total revenue in travel was up 11%, with travel U.K. up 12%. High street trading profit remained steady at £32 million (about $40.1 million). The retailer expects to open 40 stores this financial year in travel.
"Our most exciting opportunity for growth is in North America," group CEO Carl Cowling said. "We are very pleased to have recently won some significant new airport business, including wins at Dallas, Denver and Washington Dulles airports, and we are the preferred bidder for a further 15 stores across two major U.S. airports. Our store opening program is on track and we have a new store pipeline of c.60 stores already won....
"We are making excellent progress in the U.K. as we continue to benefit from the rollout of our one-stop-shop format which is creating significant opportunities to further grow profitability."
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The State of Publishing in Canada 2023 has been released, marking the eighth edition of BookNet Canada's industry survey. Offering a comprehensive look at the Canadian English-language publishing landscape, this study includes data from Canadian publishers of all sizes and explores publishers' operations and staffing; revenue and sales; distribution; format-specific publishing programs; and more. Download a PDF copy here.
The majority of publishers surveyed offered their employees a hybrid work arrangement (68%), 20% were entirely remote, and 12% worked entirely in person. In 2023, 65% of print and digital sales were backlist and 35% were frontlist titles. The average return rate in 2023, as a percentage of books shipped for all trade publishers, was 9%, down from 16% in 2021. Other highlights from the report:
- Most publishers reported that their revenue increased marginally from 2022 to 2023.
- Canadian publishing divisions published on average 35 books in 2023 and multinational companies published an average of 752 books across all divisions in Canada in 2023.
- Over three-quarters of publishers have scaled down their print runs to decrease waste, mitigate risks, limit overstock, and increase efficiencies (79%).
- The majority of publishers described the health of their company as fair, based on their ability to withstand challenges, adapt, and change (63%).
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Jean-Luc Treutenaere, European & International Booksellers Federation co-president, has stepped down after 10 years in his position. EIBF noted that Treutenaere has played a major role in furthering EIBF as the voice of booksellers and always strove to represent all booksellers, no matter their size or country. Treutenaere is president of the Syndicat des Distributeurs de Loisirs Culturels (SDLC) and director for external affairs at Cultura, France.
EIBF added, "Under his leadership, together with EIBF's other co-president, Fabian Paagman, the organization saw notable achievements, such as the launch of the international bookselling markets report, the expansion in the outreach of the EIBF network, the creation of RISE Bookselling, and the safeguard of the sector in numerous legislations, such as the Digital Markets Act or the Late Payment Regulation. We thank him once again for his long-lasting commitment to EIBF and wish him the best of luck in his future endeavors." --Robert Gray