Flat sales for S&S in first quarter

Flat sales for S&S in first quarter

Simon & Schuster (S&S) has reported flat global sales in its first quarter of 2016 at $145m, matching those from 2015.

Digital revenues represented 28% of total revenue for the quarter (down from 31% in the first quarter of 2015), according to its parent, mass media company CBS Corporation, which has owned S&S since 2006. Sales of digital audio were however up by double digits, according to Publishers Weekly.

The company's operating income grew from $12m to $13m, reflecting "lower production and selling costs", CBS added. Its highlighted bestsellers included Lady Midnight: The Dark Artifices by Cassandra Clare and As Time Goes By by Mary Higgins Clark.

Publishers Weekly further reported that sales were down by single digits in the adult division, which it said was attributed by S&S c.e.o. Carolyn Reidy to the very strong sales of All The Light We Cannot See last year.

Reidy said the market had responded "as we expected", adding she expected a strong reception to books by Stephen King, Bruce Springsteen, Catherine Coulter, Jacyee Dugard and Amy Schumer.