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 ]
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HarperCollins saw a rise in turnover but a fall in profits last year, according to its results... Continue reading at The Bookseller
[ The Bookseller | 2013-01-14 00:00:00 UTC ]
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Barnes & Noble reported disappointing holiday sales numbers while, in contrast, some independent bookstores said they had their best month ever. Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2013-01-04 00:00:00 UTC ]
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Foyles' annual profit has dived by 25%, hit by the continuing disruption from the... Continue reading at The Bookseller
[ The Bookseller | 2012-12-14 00:00:00 UTC ]
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Andrew Miller's Costa Prize-winning novel Pure and Julian Barnes' Man Booker-winner The... Continue reading at The Bookseller
[ The Bookseller | 2012-11-12 00:00:00 UTC ]
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Quarto has reported a drop in revenue but stable operating profit over the last nine months, with... Continue reading at The Bookseller
[ The Bookseller | 2012-11-01 00:00:00 UTC ]
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To take advantage of the many exciting opportunities in the book market today, you need a partner that understands your business and offers a variety of tailored solutions. Continue reading at Publishers Weekly
[ Publishers Weekly | 2012-10-29 00:00:00 UTC ]
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#digital printing
Pearson has announced a decline in operating profit for the first five months of the year, with a... Continue reading at The Bookseller
[ The Bookseller | 2012-10-29 00:00:00 UTC ]
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WH Smith chief executive Kate Swann is to leave the company in 2013, after leading it to a group... Continue reading at The Bookseller
[ The Bookseller | 2012-10-11 00:00:00 UTC ]
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Analysts have predicted profits at W H Smith will top the £100m mark when the high street... Continue reading at The Bookseller
[ The Bookseller | 2012-10-08 00:00:00 UTC ]
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Psychologist Oliver James has gone to independent publisher Karnac for his next book, in a deal... Continue reading at The Bookseller
[ The Bookseller | 2012-09-17 00:00:00 UTC ]
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The "spectacular" publishing success of the Fifty Shades trilogy has driven record half... Continue reading at The Bookseller
[ The Bookseller | 2012-08-31 00:00:00 UTC ]
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Former Waterstones m.d. Tim Coates plans to help campaigners re-open Kensal Rise Library by... Continue reading at The Bookseller
[ The Bookseller | 2012-08-28 00:00:00 UTC ]
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Simon & Schuster's sales rose 3% year-on-year to $189m in the second quarter... Continue reading at The Bookseller
[ The Bookseller | 2012-08-03 00:00:00 UTC ]
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Penguin profits have dropped by £20m in the first half of 2012 to £22m, nearly... Continue reading at The Bookseller
[ The Bookseller | 2012-07-27 00:00:00 UTC ]
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Oxford University Press has reported a 10% rise in overall organic sales the year ending 31st... Continue reading at The Bookseller
[ The Bookseller | 2012-07-19 00:00:00 UTC ]
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Sainsbury's has reported a 6.8% rise in total sales in its preliminary results for the year... Continue reading at The Bookseller
[ The Bookseller | 2012-05-09 00:00:00 UTC ]
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Random House parent company Bertelsmann has reported an increase in revenues in its first quarter... Continue reading at The Bookseller
[ The Bookseller | 2012-05-09 00:00:00 UTC ]
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The software company announced it will invest $300 million in the bookseller's ebook and college bookstore ventures Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2012-04-30 00:00:00 UTC ]
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LONDON (Dow Jones)--Pearson PLC (PSON.LN), the publisher of the Financial Times newspaper and Penguin books, Friday produced a healthy rise in first-quarter revenue, but warned profit will be down in the first half of 2012 due to seasonal effects an ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2012-04-27 00:00:00 UTC ]
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UBM plc reports a 25.8 percent increase in operating profit for the first quarter 2012 and an 11.1 percent increase in total revenue, according to unaudited results released today. Continue reading at Folio Magazine
[ Folio Magazine | 2012-04-25 00:00:00 UTC ]
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