Friday, October 15, 2010

Bookstore Sales Drop

Bookstore Sales Drop 6.5% in August Reprinted with permission of Publishers Weekly.

Bookstore sales fell by their largest rate of 2010 in August, declining 6.5%, to $2.29 billion, according to preliminary estimates released this morning by the U.S. Census Bureau. Driven by sales through college bookstores, August is typically one of the biggest sales months for bookstores and the large decline is a disappointment for those who hoped bookstore sales would stabilize this fall given still weak comparisons with a year ago. For the first eight months of 2010, bookstore sales were down 2.0%, to $10.79 billion. For the entire retail segment, sales rose 3.9% in August and 6.1% in the first eight months of the year.