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 ]
Total sales at Barnes & Noble fell 6.0% in the fiscal year ended April 28, 2018, compared to fiscal 2017, and the retailer posted a net loss of $125.5 million last year, compared to net income of $22.0 million in fiscal 2017. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-06-21 00:00:00 UTC ]
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Philip Jones reacts to David Leonhardt's piece on the "death of Barnes & Noble". Continue reading at The Bookseller
[ The Bookseller | 2018-05-11 00:00:00 UTC ]
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An 11.4% increase in revenue in the HMH trade division in 2017 over 2016 plus cost cuts resulted in net income of $2.0 million in the group last year compared to a loss of $7.0 million in 2016. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-02-22 00:00:00 UTC ]
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A year that found four of the 10 companies on the PW Stock Index seeing double-digit stock price increases also saw Barnes & Noble and other big names struggle. Continue reading at Publishers Weekly
[ Publishers Weekly | 2018-01-05 00:00:00 UTC ]
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What do The Handmaid’s Tale, 1984, Rupi Kaur’s stories of survival, and The Subtle Art of Not Giving a F*ck have in common? They are all some of 2017’s best-selling books, according to Barnes & Noble. The bookseller has just released its top-selling fiction and nonfiction titles, and the... Continue reading at Fast Company
[ Fast Company | 2017-12-18 00:00:00 UTC ]
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Following Barnes & Noble's disappointing financial performance for the second quarter ended October 28, 2017, company chairman Len Riggio bought 1 million shares of company stock, raising his stake in B&N to 19.3%. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-12-05 00:00:00 UTC ]
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Canada’s top bookstore chain, Indigo, confirms plans to open bookstores in the US in 2018. Some believe Indigo is in a better position to compete with Amazon than Barnes & Noble. The post US Industry Eyes Canadian Retailer Indigo’s Plan To Open American Bookstores appeared first on... Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2017-11-09 00:00:00 UTC ]
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Barnes & Noble's holiday sales strategies rest on new interactive apps, a new Nook model, special edition titles, and a streamlined approach to toys and gifts. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-11-08 00:00:00 UTC ]
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Educational Development Corp., which has had explosive sales growth over the last two years, saw sales fall 6.6% in the second quarter ended August 31. Net income, however, tripled. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-10-23 00:00:00 UTC ]
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Barnes & Noble has been closing stores steadily for years, but CEO Demos Parneros said, during a conference call yesterday, that his goal is to position the company for "net store expansion" in fiscal 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-09-08 00:00:00 UTC ]
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Sandell Asset Management Corp, which said it has a "meaningful" stake in Barnes & Noble, sent a letter to the retailer's board of directors urging the company try to sell itself. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-07-25 00:00:00 UTC ]
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Michael Huseby, who served as CEO of Barnes & Noble, Inc. and then executive chairman of B&N Education when that company was spun-off from B&N Inc., has been named to succeed Max Roberts as head of B&N Education. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-07-20 00:00:00 UTC ]
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The Pioneer Woman Magazine is increasing its distribution to 500,000 copies and moving past its Walmart-only distribution strategy for its second issue, which will be released in September.The Hearst Magazines publication, a joint venture with Scripps Networks Interactive, features Ree Drummond,... Continue reading at Advertising Age
[ Advertising Age | 2017-07-20 00:00:00 UTC ]
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As the new head of Barnes & Noble, Demos Parneros knows his top priority is to stop the sales slide that has plagued the company’s retail stores. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-04-28 00:00:00 UTC ]
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Microsoft, which was Barnes & Noble's original partner on the Nook (before ending the relationship in 2014), is now back in the digital book market. According to reports, the tech giant's new online bookstore will sell hundred of thousands of frontlist and backlist titles. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-03-30 00:00:00 UTC ]
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A store in northern Maine wins a cash prize; college students petition for a Barnes & Noble; Houston gets a new Latino bookstore; and more. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-02-02 00:00:00 UTC ]
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The overall message coming out of Winter Institute is that independent bookselling is thriving, particularly in light of the decline in ebook sales, Barnes & Noble’s continuing stumbles, and growing opportunities for community engagement. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-01-30 00:00:00 UTC ]
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Despite weak holiday sales at Barnes & Noble, CEO Len Riggio said there are no plans to accelerate store closings and that he expects the retailer to be "store positive" in the fiscal year ending in April 2018. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-01-09 00:00:00 UTC ]
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Barnes & Noble Inc. posted its first decline in holiday sales in three years, hurt by a downturn in the coloring-book category, bringing another sign that the Christmas season wasn't kind to retailers. Same-store sales sank 9.1 percent for the nine-week holiday period, the New York-based... Continue reading at Baltimore Sun
[ Baltimore Sun | 2017-01-06 00:00:00 UTC ]
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With store traffic failing to significantly improve after the election, Barnes & Noble's sales did not meet expectations over the holiday period. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-01-05 00:00:00 UTC ]
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