As a veteran business publisher, I’ve seen my share of ups and downs, booms and busts. The deepening shadow of the current economic crisis promises unprecedented difficulty for all businesses, including ours, in 2009.
But now I’m taking a moment to savor the extraordinary achievement of our brilliant authors, and our hardworking staff, to make an unprecedented success of 2008, in the teeth of a deepening recession.
Despite reduced store traffic through the year, Portfolio reported topline sales growth of 22% and gross margin growth of more than 50%. Nearly half of our new titles achieved margin target in the year of publication. We placed two books on the printed New York Times bestseller list, and several more on the extended Times list, the Wall Street Journal list, the BusinessWeek list, and other bestseller compilations.
Among the highlights of our year:
- Free Lunch by David Cay Johnston, January, five weeks on the Times bestseller list.
- The Go-Giver by Bob Burg and John David Mann, January, sales approaching 100,000 [93,298 in print] and translation rights placed in 16 countries. WSJ and BW lists.
- The Back of the Napkin by Dan Roam, March, cited by Amazon.com (#5 of the Top 10 Books 2008: Business and Investing), by BusinessWeek as the Best innovation & design book of 2008, Fast Company’s Best Business Books of 2008, and many others.
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