The first day of summer will be sweet

January 16, 2003 in Uncategorized by matt | No comments

The new Harry Potter comes out that day. They picked a Saturday so that schoolkids won’t have to skip school to wait in line at the bookstore. Consider these facts:

  • Shares of Scholastic were up 8.66% on Wall Street. In London, shares of Bloomsbury jumped 4%.

  • After Amazon started preorders yesterday, Order of the Phoenix flew to the No. 1 spot. At Barnes & Noble online, the book went on sale at $17.97, even though Scholastic hasn’t priced it yet.

Do you think the book industry is excited about this? It doesn’t take an accountant to figure out what this means to their bottom line.

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