How TikTok Helped Fuel The Best-Selling Year For Print Books (forbes.com)

Another week with double-digit gains in all but one category led to a 15.1% jump in unit sales of print books from the comparable period in 2019 at outlets that report to NPD BookScan. The juvenile nonfiction segment had the biggest gain over the week ended Aug. 3, 2019, with units spiking 40%. The usual suspects were atop the category bestseller list in the week—Big Preschool Workbook was #1, selling nearly 33,000 copies, followed by Crystal Radke’s My First Learn-to-Write Workbook, which sold more than 28,000 copies. Last year at this time, Big Preschool Workbook sold nearly 14,000 copies. Print unit sales were up 18.9% over 2019 in the adult nonfiction category.

An increase of U.S. tariffs on Chinese made goods could have a major impact on American consumers’ spending power. That's according to the National Retail Federation’s latest study, “Estimated Impacts of Changes to China’s Tariff Status,” which finds that consumers could lose $31 billion in spending power if U.S. tariffs are raised on common household products like microwaves, t-shirts, toys, footwear and more imported from China. This figure comes out to $240 per household in higher prices for widely-used items. “Many elected officials and others have expressed a growing interest in a number of trade policy and practice changes that would affect U.S. trade with China,” said NRF. “Chief among them is a proposal to terminate China’s ‘permanent normal trade relations’ (PNTR) trade status, subjecting imports from China to ‘Column 2’ tariff rates, which can be much higher than ‘normal trade relations’ rates. Some have even suggested raising the rates higher than ‘Column 2’ rates.”

Guitar Center expects to emerge from Chapter 11 bankruptcy by Dec. 31 after recently winning approval in federal bankruptcy court for its reorganization plan, the company said in a press release. According to the musical instrument retailer, the plan allows it to shed more than $800 million in debt. At the same time, Guitar Center has raised $350 million in new secured notes and expects to have a new asset-based facility worth up to $375 million, as well as $165 million in new equity investments.