Booksellers and publishers are hoping a post-election flood of titles by brand-name authors can rescue their holiday season, which arrives amid the worst economy in 50 years. Several big releases were timed to avoid the campaign and are out this week, including Wally Lamb’s The Hour I First Believed, Stephen King’s Just After Sunset and Toni Morrison’s A Mercy.
Barnes & Noble is bracing for “a terrible holiday season.” The American Booksellers Association president Gayle Shanks predicts kids’ books will do best over the holidays, led by JK Rowling’s The Tales of Beedle the Bard.
Book sales dropped 2% in September and are down 1.5% for the year, the Association of American Publishers reported last week. Adult hardcover sales dropped 30% in September, but thanks to Stephenie Meyer’s Twilight series, children’s and young-adult hardcovers were up 42%.
Booksellers and publishers like to say books are recession-proof. Simon & Schuster reports its best-known authors, such as Bob Woodward, are selling well, but store traffic is down and fewer customers are buying more than one title.
Source: USA Today
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