Hillary Clinton’s Book Tops Barnes & Noble Sales In First Week

Hard Choices sells 24,000 copies in its first week through B&N.

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Former Secretary of State Hillary Clinton attends a book signing for with her new memoir, Hard Choices, at a Costco in Arlington, Va., last Saturday. Olivier Douliery / Abaca Press

Hillary Clinton’s new memoir, Hard Choices, topped the Barnes & Noble best-seller list in its first week, according to the company’s Nielsen BookScan sales numbers released to publishers on Monday and obtained by BuzzFeed.

Barnes & Noble, the country’s largest retail bookseller, has sold just over 24,000 copies of the book since its release on June 10. Hard Choices debuted at No. 1 on the bookseller’s hardcover best-seller list, which includes fiction and nonfiction.

Clinton’s memoir edged out the new Diana Gabaldon book, Written in My Own Heart’s Blood, for the top spot, selling just 319 more copies, according to the sales list. (The Gabaldon book, released on the same day as Clinton’s, is the eighth installment in her long-running historical sci-fi romance Outlander series.)

Hard Choices is Clinton’s second memoir. The 656-page book tells the story of her four years as President Obama’s secretary of state. Democrats have said they hope the book, and the coast-to-coast publicity tour that began last Tuesday at a Manhattan Barnes & Noble, will preface another White House bid in 2016.

Bookstores and other retailers ordered through the first printing of Clinton’s book — which totaled 1 million copies — two weeks before it had even been published.

The Barnes & Noble BookScan figures provide the first, if partial, glimpse at consumer interest. The figures, released Monday, only represent Barnes & Noble sales. They also do not include sales for e-books, made for tablets like Kindle.

But the numbers do indicate that Hard Choices has not performed as well in its first week as Clinton’s first memoir, Living History, did in 2003.

At the time, Barnes & Noble spokeswoman Carolyn Brown told CNN that they sold more than 40,000 copies of Living History in 24 hours, breaking the Barnes & Noble release-day sales record. The BookScan numbers released Monday, which cover sales for the week ending on June 15, show the company sold just over half that amount in hardback copies of Hard Choices.

Barnes & Noble sales represent a smaller share of the book market than they did in 2003, when Amazon and other online retails were less dominant.

Clinton’s first book told the story of her childhood, her life with Bill in Arkansas, and her time as first lady. The memoir amounted to Clinton’s first major account of a tumultuous eight years in the White House — her take on the impeachment, Monica Lewinsky, and the investigations that dogged her husband’s administration.

That book sold more than 1 million copies in its first month. Interest in Living History was so high that Simon & Schuster printed an additional 50,000 copies in the first week — on top of its first printing of 1 million. (The publisher has not released information about a second printing of Hard Choices.)

Clinton kicked off her book tour at a Barnes & Noble in Manhattan’s Union Square last Tuesday, where more than 1,000 people purchased copies and waited in line for autographs. Since then, she has held 10 events in six cities to promote the book.

This week’s New York Times best-seller list comes out on Wednesday evening. Clinton allies are waiting to see where Hard Choices starts on the list — Living History debuted at no. 1 — and for how long it’s able to stay on.

Spokespeople for Barnes & Noble and Simon & Schuster did not respond to requests for comment on Monday afternoon.

Read more: http://buzzfeed.com/rubycramer/hillary-clintons-book-tops-barnes-noble-sales-in-first-week

Textbook Rental Company Turns To Late-Night Food Orders To Sell Investors

Chegg is trying to reinvent itself into a full suite of student offerings as skepticism grows over the future of textbook rentals. So far, investors aren’t buying it.

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Chegg CEO Dan Rosensweig on an advertising panel in April 2012. Jason DeCrow/Invision for Advertising Week / AP Images

What started as a print textbook rental business has evolved into a full suite of services for students that includes a platform for late-night food orders.

At least that’s the makeover Chegg CEO Dan Rosensweig is trying to sell to investors. Not unlike many old school media companies that are preaching a gospel of digital first, Rosensweig wants to do the same for Chegg, lately referring to his company as a “student-first connected learning platform.” In addition to rented textbooks, the company is now offering study materials, internships, college match programs, and, yes, even a discount food-ordering service.

Rosensweig admits it’s a “complex story.” And so far, investors aren’t buying into his vision. After a disastrous IPO late last year that sent its shares tumbling 15% in its first day on the market, Chegg’s stock has continued to slide, from an initial $12.50 a share to well below $6.

In its first-quarter earnings report, released Thursday, Chegg emphasized that its digital revenue was up 66% year over year to $17.8 million. But the majority of its revenue is still generated by textbook rentals, which accounted for 76% of its $74.4 million in total revenue. The company had a net loss of $25.8 million in the quarter.

Chegg’s digital growth has been driven by its big-name acquisitions, such as study platform Cramster, food-ordering service Campus Special, and a major college-match program called Zinch.

“Everything we do is designed to solve the pain points students have,” Rosensweig said in an interview with BuzzFeed last week at the annual ASU/GSV Education Summit. He admitted, though, that investors “may not understand our business right now, and it’s my job to change that.”

Chegg went public just as the textbook rental space became increasingly crowded with big names like Barnes and Noble and Amazon, and as print textbooks themselves are increasingly being replaced by digital curriculum.

“I think investors were spooked,” Rosensweig said of the company’s IPO.

On its earnings call Thursday, Rosensweig laid out a goal for the company he is calling “50/50/50:” They hope to have 50% of revenue come from their digital business, and to reach 50% of both high school and college students.

Chegg’s move into the food-ordering business was a focus of the call. One analyst asked about the ordering platform’s revenue model, which he said he did not understand. Chegg bought Campus Special for $17 million in April, and is paying $2 million in expenses without any revenue for the quarter; the platform’s sales cycle does not begin until July.

Another analyst called the purchase of Campus Special “not core to your studying-related business” and asked Rosensweig if similar “non-core” acquisitions were planned.

“We do think it’s at the core of our business,” Rosensweig corrected. In an earlier interview with BuzzFeed, he said he hopes to use the business to disrupt the model of the college meal plan.

Read more: http://buzzfeed.com/mollyhensleyclancy/chegg-turns-to-late-night-food-orders-to-sell-investors