The sales in the 3rd quarter of 2015 compared to 2014 appear to have "caught up" with the loss of Source Interlink in the year over year comparison. While we continue to experience double digit declines, lost distribution from the Source closure had stabilized somewhat by this period in 2014.
As you review the 3rd quarter trends, please note that all B&N numbers are estimated based on previous years results/trends and projecting 2015 results.
The newsstand remains a challenging environment, as demonstrated in the detailed insights contained in this newsletter. While the sell through efficiency improved in the 3rd quarter to 27.4%, up from 26.5% in the first half, overall draw was nearly equal (-1.8%) versus last year. However, sell through is down more than 3 points from the 31.0% sell through we experienced in the same quarter 2014, indicating that the channel continues to seek all opportunities in the market place. With that said, the Canadian sell through improved by 2 points on a draw reduction of 16.0%.
While the decline over nearly a decade continues, MagNet has identified several editorial categories that have achieved positive YOY growth. Some of those successes are detailed below.