Bloomsbury sales plummet as bookshops remain closed amid virus panic

Print revenue at publishing group Bloomsbury who are best known for the Harry Potter books, has nosedived due to the coronavirus pandemic.

Year-to-date revenue in April was down three per cent compared to last year, with print revenue down 87% and academic digital revenue up more than 52% year on year.

“The coronavirus crisis and imposition of government lockdowns and restrictions and retail closures continue to impact all our key markets of the UK, US, Australia and India as well as many other important markets,” Bloomsbury said.

“Orders for print books, which comprised 79%  of the Company’s revenue for the year ended 29 February 2020, are being affected in all our markets. Our UK, US and Australia warehouses remain open and continue supply to customers.”