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Bookstore sales rallied slightly in December from deep monthly slumps for most of 2020, but were still down 15.2% in the last month of the year compared to December 2019. For all of 2020, bookstore sales fell 28.3% from 2019, according to preliminary estimates from the U.S. Census Bureau. December bookstore sales were $879 million, down from $1.04 billion in December 2019. The 15.2% December drop was the smallest decline since February, when sales slipped 0.7% before the global pandemic struck. In March, sales fell 33.2% as retail lockdowns kicked in, then plunged 74.2% in April as stay at home orders fully took hold. May sales were slightly better, falling 60% from May 2019.

Dear Colleagues, I am writing today because, as you may have heard, Paramount has terminated its agreement to sell Simon & Schuster to Penguin Random House, and there will be no appeal of Judge Florence Pan’s decision to block the merger of the two companies. This news is still fresh, and at this point I have no specific information to impart about what will happen in the coming months. You may read or hear rumors and speculation about our future, but you can be assured that I will keep you informed as soon as there is pertinent news I can share. I am grateful for your patience and dedication to our mission during all that has transpired over these many months since the sale began. Ultimately, what matters the most is the work we do together, on behalf of our authors and our books. Over the past three years, we have reached new heights of accomplishment. Simon & Schuster has never been more profitable and valuable than it is today. And that is because of the effort, ingenuity, and perseverance that you bring to our endeavors.

Costco Wholesale Corporation announced that Hamilton E. (Tony) James has been elected as the Chairman of the Board of Directors.  He is President, Chief Operating Officer of The Blackstone Group…