Shutterfly announced it has closed its previously announced acquisition of Lifetouch, the national leader in school photography. The company financed the acquisition with the proceeds of an $825 million incremental term loan facility, which closed simultaneous with the acquisition. “We are thrilled to welcome Lifetouch to the Shutterfly family, and are excited to bring together two undisputed leaders in adjacent verticals, both of which have the common mission of helping customers share life’s joy through photos,” said Christopher North, President & Chief Executive Officer of Shutterfly. “We are focused on realizing the three value creation opportunities that we previously articulated: gaining access to many Lifetouch customers as Shutterfly customers, offering Shutterfly’s broader product range to Lifetouch customers and accelerating the development of Lifetouch’s online platform, and realizing significant supply chain, manufacturing, and fulfillment synergies over time.” Click Read More below for additional information.
Print sales are off to a slow start in 2019, according to NPD BookScan data. Through February 2, units were down 5.9% compared to the first four weeks in 2018. The decline doesn’t come as a total surprise. The industry knew it was facing a difficult comparison with last January, when Michael Wolff’s Fire and Fury sold almost 800,000 print copies. The top seller so far in 2019 is Michelle Obama’s Becoming, which has sold 310,000 copies.
The popularity of Fire, as well as a number of other Trump-related titles, helped lift unit sales in the adult nonfiction category 4.9% in 2018 over 2017, but there are early signs that the fascination with all things Trump may be weakening. The first new Trump-related titles that have received heavy media coverage this year, Team of Vipers by Cliff Sims and Let Me Finish by Chris Christie, sold 15,000 and 13,000 copies, respectively, in their first week on sale, a far cry from the 197,000 copies Fire and Fury sold in its first week last year (it sold 326,000 copies in its second week). There are still a plethora of books about Trump and his administration to come, so it is possible that interest, and sales, could once again spike this year, but it seems clear that such a spike would require a book from someone who was deep inside Trump’s circle. With unit sales of political books falling 40% in January from a year ago, January sales of adult nonfiction overall were down 5.8%.
Unit sales dropped even more in adult fiction than in nonfiction in January, falling 8.7%. The decline in fiction sales is a little tougher to explain than the fall in nonfiction sales, since the beginning of 2018 had no blockbuster novel comparable to Fire on the nonfiction side. The top seller in adult fiction last January was No Middle Name by Lee Child, which sold about 81,000 copies in the month, while the January 2019 #1 adult fiction seller was Where the Crawdads Sing by Delia Owens, which has sold 79,000 copies. The five biggest sellers last January in adult fiction sold about 302,000 copies—roughly 6% more than the five top titles this January.
more at source: https://www.publishersweekly.com/pw/by-topic/industry-news/bookselling/article/79231-slow-start-for-print-units-in-2019.html