Barnes & Noble swings to profit

Barnes & Noble returned to a profit in the fiscal second quarter as it invested less in its Nook ebook reader and cost cuts offset lower sales.Its sales missed expectations, however, and its shares dropped more than 3% in premarket trading. The report comes as the crucial holiday season kicks off, when retailers can make up to 40% of their annual revenue."Our booksellers are prepared to welcome holiday shoppers and recommend thoughtful gift ideas for everyone on their list," said Michael P. Huseby, president of Barnes & Noble and CEO of Nook Media.The company has spent heavily on building up its Nook ebook reader and digital library, but it has scaled back amid tough competition from Amazon's Kindle and the Apple iPad. It has been reviewing its strategy since CEO William Lynch departed in June and the company did not name a replacement. It introduced a new non-tablet ebook reader, a $119 Nook GlowLight, for the holidays.Net income for the three months ended Oct. 26 totaled $13.2 million, or 15 cents per share. That compares with a loss of $501,000, or 7 cents per share, last year.Revenue fell 8% to $1.73 billion from $1.88 billion last year. Analysts expected a loss of 3 cents per share on revenue of $1.76 billion, according to FactSet.Revenue fell across all segments. Retail revenue fell nearly 8% to $921 million. College bookstore revenue fell 4.6% to $737.5 million and Nook revenue dropped 32% to $108.7 million.Shares fell 58 cents, or 3.5%, to $15.85 in... Continue reading at 'Crains New York'

[ Crains New York | 2013-11-26 00:00:00 UTC ]
News tagged with: #analysts expected #net income #apple ipad #digital library #nook media #barnes noble #holiday shoppers

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Barnes & Noble Bets On Physical Bookstores To Improve Profits

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This is the Best Book of the Year, According to Barnes and Noble Booksellers

In addition to their top book of the year, Barnes and Noble booksellers also selected a winner for a new award for speculative fiction. Continue reading at Book Riot

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Barnes & Noble is Offering Buy One, Get One 50% Off on Hundreds of Books

Barnes & Noble is currently holding a huge Buy One, Get One 50% Off sale applied to hundreds of titles, both in store and online. Continue reading at Book Riot

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Barnes & Noble’s Best Books of 2022

Barnes & Noble has released their list of the best books of 2022. The list includes everything from memoirs to dystopian novels. Continue reading at Book Riot

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What Is Going On With Barnes & Noble?

Writers sounded the alarm after learning Barnes & Noble stores would only be stocking hardcovers with proven sales records. Here's more on what this means. Continue reading at Book Riot

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Barnes & Noble Huge 50% Off Sale

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Barnes & Noble Announces Their Best Books of 2022 So Far

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Barnes & Noble reveals a cheaper version of its Nook GlowLight 4 e-reader

Barnes & Noble has revealed its latest Nook e-reader, a more budget-friendly version of the Nook GlowLight 4 it announced in December. The Nook Glowlight 4e costs $30 less than the previous model but, as you might expect, there are some tradeoffs.The e-readers share a similar design, with... Continue reading at Engadget

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Barnes & Noble Being Sued in Virginia Beach Over GENDER QUEER, COURT OF MIST AND FURY

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How Barnes & Noble Went From Villain to Hero

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Barnes & Noble Unveils Union Square & Company

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Barnes & Noble Names Their 2021 Book of the Year

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Barnes & Noble Name Third-Annual “Book Of The Year” Finalists

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Barnes & Noble’s Top Books Of 2021

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