Barnes & Noble Inc. said Tuesday that its fiscal third-quarter net income fell 14%, as rising costs offset higher sales. The company also said it will introduce a cheaper Nook Tablet.In its latest salvo in the tablet competition Amazon.com, Barnes & Noble said it will sell a Nook Tablet device with 8 gigabytes of memory for $199. Its current 16 gigabytes device sells for $249. Amazon.com's Kindle Fire also has 8 gigabytes and sells for $199. In addition, Barnes & Noble cut the price of the Nook Color to $169 from $199. It has fewer tablet-like features than the Nook Tablet.New York-based Barnes & Noble has been investing heavily in its Nook business. Revenue from Nook e-readers and its digital catalog rose 38% to $542 million. That includes the actual selling prices for ebooks, rather than the commission received on selling them, as well as all deferred e-reader device revenue. The company estimates it has a 27% to 30% share of the U.S. ebook market.Traditional book sales rose 4% in the quarter. It was the first holiday season that Barnes & Noble did not have competition from Borders, a major rival that liquidated last year.Barnes & Noble has been shifting store inventory away from books toward games and toys and other gift items. That strategy seems to be paying off.Revenue in stores open at least one year rose 2.8%. The measure is a key indicator of a retailer's financial health because it excludes stores that opened or closed during the year."In... Continue reading at 'Crains New York'
[ Crains New York | 2012-02-21 00:00:00 UTC ]
Total revenue jumped 9 percent to $367 million for Meredith Corp in the second quarter of fiscal 2011, driven by strong advertising growth and integrated marketing services. Total advertising revenue for the first six months of fiscal 2011 jumped 11 percent to $420 million (with total revenue of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-25 00:00:00 UTC ]
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