Investors flee as bid for Barnes & Noble's stores ends

Barnes & Noble says it plans to keep making its Nook electronic readers and will focus on offering content to its customers, even as its first-quarter net loss nearly doubled.The quarterly results came as the struggling bookseller's chairman said he is abandoning his bid for the company's retail stores. Shares tumbled 12% in midday trading.Barnes & Noble is reviewing its strategy in the wake of CEO William Lynch's departure in June and continuing declines in Nook revenue, a unit the company has invested heavily in. In a call with investors, Barnes & Noble Michael Huseby, president of Barnes & Noble and CEO of its Nook business, said the 4-year-old Nook business has had some success, with 10 million devices sold and a 22% share in the ebook market. But he said there have been missteps."We have faced an increasingly challenging competitive landscape and, as it turned out, we were overly optimistic the past two holiday seasons, forecasting demand for our Nook devices falling far short of our expectations," he said in a call with investors.In June, Barnes & Noble said it would explore making its color Nook devices with a third-party manufacturer. On Tuesday Mr. Huseby elaborated, saying the company continues to design and develop both black-and-white and color Nook devices, with at least one new Nook due out for the holiday season and more products in development. He said the company already works with third-party manufacturers for parts of the device such... Continue reading at 'Crains New York'

[ Crains New York | 2013-08-20 00:00:00 UTC ]

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AAP September StatShot: US Book Market Overall Up 2.4 Percent

Year-to-date, the Association of American Publishers' StatShot report for September shows the United States' book industry up 7 percent. The post AAP September StatShot: US Book Market Overall Up 2.4 Percent appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

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Remembering Mike Shatzkin: Book Industry Commentator

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Frankfurt Book Fair: FEP’s Data ‘Story’ of the European Book Market

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Download our 2024 Frankfurt Book Fair Magazine

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Frankfurt’s 2025 Guest of Honor: The Landscape of the Philippines’ Literature

'One of Asia’s best performing major emerging economies,' the Philippines is also home to a growing book industry that nourishes Filipino authors and sustains local publishers. The post Frankfurt’s 2025 Guest of Honor: The Landscape of the Philippines’ Literature appeared first on Publishing... Continue reading at Publishing Perspectives

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Frankfurt: Guest of Honor Italy Reports Book Industry Slowdown

Days before opening its guest of honor week at Frankfurt, Italy's publishers' point to a €100 million loss in public funds under the Meloni government. The post Frankfurt: Guest of Honor Italy Reports Book Industry Slowdown appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

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Booksellers Step Up to Help Bookstores Hit by Hurricane Helene

While the Book Industry Charitable Foundation continues to raise funding to help Southeastern booksellers at need, the Southern Indie Booksellers Alliance and booksellers across the South are rallying to assist. Continue reading at Publishers Weekly

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AAP StatShot: US Book Industry Was Up 6.2 Percent in June

A 26.8-percent decrease in returns was a factor in the US market's trade net sales in June, according to the AAP's new StatShot report. The post AAP StatShot: US Book Industry Was Up 6.2 Percent in June appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

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Annapurna's entire video game team has reportedly left the company

The entire Annapurna Interactive team has left the company after its executives walked out, according to Bloomberg. Apparently, the video game publisher's president, Nathan Gary, had been negotiating with Annapurna Pictures' founder Megan Ellison to spin off Annapurna Interactive into its own... Continue reading at Engadget

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Best laptop deals for Prime Day 2024: Juicy sales on great notebooks

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Best laptop deals for Prime Day 2024: Juicy sales on great notebooks

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Authors ask Waterstones to rehire worker fired after tweet about gender-critical writer

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AAP StatShot: US Book Industry Flat in First Quarter

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World Book Day: EU to Exclude Book Industry from Late Payment Regulations

Publishers and booksellers worked together to secure an exemption from the EU's late payment legislation, a decision that protects the publishing's unique business model. The post World Book Day: EU to Exclude Book Industry from Late Payment Regulations appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives

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BISG Looks to the Future at Annual Meeting

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China’s Book Industry in 2023: Back in the Black

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Piracy in Italy: Study Shows Book Industry Losing €705 Million Annually

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Frankfurt Guest of Honor Italy: Trade Book Sales Up in 2023

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Binc Announces Three New Board Members, Introduces New Board Executives

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