3 October 2022
When profits and sales soared in the first half of 2021, the heads of the major publishing companies knew they would face some difficult comparisons in 2022, and that's largely been the case. As had been anticipated, demand for books slowed this year, and the combination of softer sales, high inflation, and ongoing supply chain issues put a serious dent in earnings at three of the big four trade publishers in the first six months of 2022. Those same factors have kept publishers' expectations for the remainder of the year guarded.