AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Despite a multitude of changes, sales increase to an estimated $650 million
Acknowledging that the fiscal year ended June 30, 1993, saw more changes than the previous five years combined, Bantam Doubleday Dell Publishing Group president Jack Hoeft said that fiscal 1993 was nonetheless the best year in the company's history. In an interview in his office at the Bertelsmann Building, Hoeft told PW that four divisions in particular had record years: Doubleday, Dell/Delacorte, Transworld and the international division. Bantam Books, while not enjoying a record year, showed improvement over a difficult fiscal 1992. Total sales in fiscal '93 are estimated at $650 million, a figure that excludes divested properties.
Many of the changes that took place in fiscal '93 were planned long in advance, Hoeft said. According to Hoeft, an analysis of BDD's business "made it clear that the strategies of the 1980s wouldn't work in the 1990s." Observing that BDD had become involved in too many areas, Hoeft said the decision was made to concentrate on the …