Hachette UK net sales drop 4.6% in 2014
Hachette UK net sales in 2014 dropped 4.6% compared to the previous year, reports the Bookseller. Parent company Lagardere attributed the drop to the ‘exceptional success’ of former soccer manager Alex Ferguson’s autobiography and The Cuckoo’s Calling by Robert Galbraith in 2013. Hachette UK CEO Tim Hutchinson said ‘while HUK’s like-for-like sales were lower in comparison with our fantastic “Alex Ferguson” year in 2013, our total sales rose because of the acquisitions we made, especially Constable & Robinson and Quercus, and some exceptional bestsellers through the year.’ Digital sales have risen by 10% and now represent 23% of total sales. Lagardere Publishing as whole, which covers activity in the UK, US, France, Spain and Latin America, recorded a 3% dip in net sales, from €2066m (A$3029m) in 2013 to €2004m (A$2938m) in 2014.
Category: International news