B&N – Rocky Times

With sales at Barnes & Noble in the fiscal year ended April 28 dropping 6% compared to fiscal 2017 and a host of one-time charges contributing to a net loss of $125.5 million compared to net income of $22.0 million in 2017, CEO Demos Parneros acknowledged that fiscal 2018 was a “challenging year.” He said that some of the changes the company has made led to modest improvements in certain areas but told analysts during a conference call discussing the recent results that turnarounds take time. Parneros announced B&N’s latest strategic plan in March.

One of the most immediate effects of the new plan was that B&N cut expenses by $52 million in fiscal 2018, with about $40 million of that coming from eliminating 3,000 full-time retail positions as it created a new store labor model. According to B&N’s 10-K filing with the SEC, the company had 8,000 full-time retail employees as of April 28, down from 11,000 a year ago. The number of part-time employees remained at 15,000. ($16.2 million in severance payments were among B&N’s one-time charges.)

 Read More at Publishers Weekly

Little House on the Prairie – Banned

The Association for Library Service to Children (ALSC), a division of the American Library Association, voted on Saturday to strip the name of Laura Ingalls Wilder from a popular children’s book award, months after a task force set out to consider the long-running scholarly discussion around “anti-Native and anti-Black sentiments” in the author’s work.

The Laura Ingalls Wilder Award honors an author or illustrator whose books have made “a significant and lasting contribution to children’s literature.” It will now be called The Children’s Literature Legacy Award.

Read More at Pubisher’s Weekly