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 ]
The content on Scribd, the San–Francisco based startup that aims to create the digital library of the future, is available on a range of devices, from laptops to smartphones to tablets. But CEO Trip Adler tells Fast Company we won't be reading e–books in our hands in the future––they'll be... Continue reading at Fast Company
[ Fast Company | 2013-10-07 00:00:00 UTC ]
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Bookworms in the UK tired of smuggling flashlights to bed might want to take another look at the Nook Simple Touch with Glowlight. After all, you can get one for £49 now that Barnes & Noble has slashed £20 off its retail price -- that's far, far lower than the amount people had to pay at... Continue reading at Engadget
[ Engadget | 2013-09-25 00:00:00 UTC ]
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News Corp., the publishing company that owns The Wall Street Journal, reported $506 million in net income for the fiscal year ended June 30, the last year before its split from Rupert Murdoch's entertainment operations.The profit, which amounted to 87 cents a share, compared with a loss of $2.08... Continue reading at Crains New York
[ Crains New York | 2013-09-21 00:00:00 UTC ]
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Edward Thorp was banned from casinos in Vegas for counting cards. He even published a book on his system for winning at the blackjack table using the mathematical theory of probability. While working at MIT, he built what many consider the first wearable device for -- you guessed it -- beating... Continue reading at Engadget
[ Engadget | 2013-09-13 00:00:00 UTC ]
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In each issue of Distro, Executive Editor Marc Perton publishes a wrap-up of the week in news. There's a very good chance you're reading this on a tablet. Distro is, after all, first and foremost, a tablet magazine. There's also a reasonable chance you're reading this on a computer. Distro... Continue reading at Engadget
[ Engadget | 2013-08-30 00:00:00 UTC ]
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Ever since Barnes & Noble announced the $600 million–plus investment by Microsoft and the creation of Nook Media in April 2012, the conventional wisdom within the industry and among financial analysts was that the company was headed for a split, whereby Nook Media would be carved out from... Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-08-23 00:00:00 UTC ]
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Nook sales at Barnes & Noble have continued to drop in the first quarter of its new financial... Continue reading at The Bookseller
[ The Bookseller | 2013-08-20 00:00:00 UTC ]
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B&N is being eulogized as a 'dead man walking,' but the company still has a firm foundation, including the Nook, and will be with us as long as we still have print. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-08-19 00:00:00 UTC ]
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One part of a proposal to enforce the verdict against Apple for allegedly fixing ebook prices would require Amazon and Barnes & Noble 'buy' buttons in the Apple store, allowing consumers to easily compare ebook costs. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-08-06 00:00:00 UTC ]
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Barnes & Noble says it lost less money than it previously reported during the past two years. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-07-31 00:00:00 UTC ]
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Writing for Bloomberg.com, Virginia Postrel has a counterintuitive suggestion for publishers, Barnes & Noble and tech-savvy retail entrepreneurs: embrace showrooming. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2013-07-30 00:00:00 UTC ]
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Jim Hilt, managing director of Barnes & Noble's European ebook business, said the... Continue reading at The Bookseller
[ The Bookseller | 2013-07-15 00:00:00 UTC ]
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Uncertainty has been hovering over Barnes & Noble ever since the retailer first reported that 2012 holiday sales— especially those of its Nook reading devices—were well below expectations. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-12 00:00:00 UTC ]
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It's been a rough week for Barnes & Noble. And month. And year. And it may get worse before (if) it gets better. Continue reading at Publishers Weekly
[ Publishers Weekly | 2013-07-11 00:00:00 UTC ]
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Following a shaky fourth-quarter report, B&N announced that it would be partnering with another company to release its Nook tablet line, although the bookstore chain will continue to manufacture its e-readers. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-06-26 00:00:00 UTC ]
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Barnes & Noble has announced it will partner with a third party to manufacture tablet devices... Continue reading at The Bookseller
[ The Bookseller | 2013-06-25 00:00:00 UTC ]
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This Kickstarter tries to answer the question of why--in a world of digital media--kids in the developing world don’t have access to books. When Rebecca McDonald moved to Haiti after the 2010 earthquake, she wasn’t a career humanitarian. Her most recent job was overseeing construction... Continue reading at Fast Company
[ Fast Company | 2013-06-20 00:00:00 UTC ]
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Barnes & Noble's Nook Store has offered short-form works much like those we've seen from Amazon's Kindle Shorts section, but they haven't really been a highlight. The company's new Nook Snaps program may give those quick reads their time to shine, however. The effort will see Barnes &... Continue reading at Engadget
[ Engadget | 2013-06-07 00:00:00 UTC ]
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Barnes & Noble has vowed to fight for digital market share in the UK following a recent leap... Continue reading at The Bookseller
[ The Bookseller | 2013-06-03 00:00:00 UTC ]
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Massachusetts-based publisher Barefoot Books had previously cut ties with Barnes & Noble and Borders. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-05-24 00:00:00 UTC ]
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