The Association of American Publishers (AAP) today asked the U.S. government to encourage trading partners to fulfill their pledges to the U.S. to improve protection and enforcement of copyright. The submission was filed by the International Intellectual Property Alliance (IIPA) in response to the 2017 Special 301 inquiry by the U.S. Trade Representative (USTR) and outlines the key challenges facing a number of creative industries, including publishing, when it comes to enacting copyright and related rights in foreign markets. Among other issues, the IIPA submission addresses the increasingly digital nature of trade and asks that standards be updated when necessary. It also discourages any proposed copyright law changes that fall outside established global norms. The submission identifies copyright and market access concerns in 25 countries, with eight nations listed on the Priority Watch List, and eight more on the Watch List. click Read More below for additional detail
Barnes & Noble, Inc. (NYSE:BKS) today reported sales and earnings for its fiscal 2018 second quarter ended October 28, 2017.
Total sales for the second quarter were $791.1 million, declining 7.9% as compared to the prior year. Comparable store sales decreased 6.3%, with approximately half of this decline attributable to last year’s release of Harry Potter and The Cursed Child. The balance of the decline was primarily due to non-book categories.
“Comparable sales improved throughout the second quarter and into November,” said Demos Parneros, Chief Executive Officer of Barnes & Noble, Inc. “Book sales continued to strengthen, and we saw improved traffic and conversion trends. As a result of the improving trends, we will continue to place a greater emphasis on books, while further narrowing our non-book assortment. We expect these improvements to continue as we head into the holiday season which, coupled with cost reductions, will enable us to achieve EBITDA of $180 million.”
The consolidated second quarter net loss was $30.1 million, or $0.41 per share, compared to a loss of $20.4 million, or $0.29 per share, in the prior year. The consolidated operating loss was $52.2 million for the quarter.
The Company incurred an EBITDA loss of $25.0 million for the quarter, primarily due to the comparable store sales decline.
more detail at: http://investors.barnesandnobleinc.com/releasedetail.cfm?ReleaseID=1050284