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All those passionate fans counting the months, weeks, days and hours to the release of “Harry Potter and the Deathly Hallows” have made Barnes & Noble a happy place of impressive profit.
British author J.K. Rowling’s seventh and final book of the now-legendary Harry Potter series had fans bubbly with anticipation for months on end. The efforts of maintaining security prior to the book’s release as well as the hard work in organizing the whole event have paid off for Barnes & Noble.
The bookseller retailer reports significant profits for its last quarter, due to “Harry Potter and the Deathly Hallows.” Customer demand was so high, that same-store sales went higher by 4.4pc, while total revenues rose 7.6pc to $1.2bn (£600m).
Barnes & Noble said profits jumped to $18 million, whereas in 2006 they reached $16.6 million.
“Record breaking sales from J K Rowling's Harry Potter and the Deathly Hallows was the principal driver behind our comparable store sales growth in the quarter,” said chief executive Steven Riggio.
“The book continues to sell well, as do all the previous volumes in the Harry Potter series.”
The chain has had serious competition lately from online retailers and supermarket chains, but having been around for almost a century, the company knows its stuff.
Other books helping to boost profits were, besides Harry Potter’s latest adventures (and last), best-selling titles such as “The Reagan Diaries,” Al Gore's “The Assault on Reason,” and Conn and Hal Iggulden's “The Dangerous Book for Boys.”
Rowling’s writing talent has set records and she’s not laying her pen down yet.
When released on July 21, “Deathly Hallows” averaged more than 300,000 copies sold per hour, meaning that 5,000 copies were bought each minute.
The Harry Potter series has sold over 325 million copies to date and have been translated into more than 64 languages. Harry Potter-mania is global. With Rowling saying that she might publish a Harry Potter encyclopedia in the near future, children are bound to do some more reading.
Earlier this week, Barnes & Noble announced it would not stock O.J. Simpson’s controversial “If I Did It,” his hypothetical account of how he would have murdered ex-wife Nicole brown Simpson and her friend Ron Goldman more than a decade ago – had he done it.
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