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 ]
A pricing war among the big guns of the book industry is causing pain at the checkout screen, but sprouting new opportunities for writers and readers. Continue reading at PC World
[ PC World | 2011-05-26 00:00:00 UTC ]
More news stories like this
The question of how readers will discover books that they didn't already plan to buy has been growing in importance in the book industry as more sales move from physical bookstores to online retailers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-05-23 00:00:00 UTC ]
More news stories like this
Written By: Lisa Campbell Publication Date: Wed, 18/05/2011 - 09:33 Dominic Myers has called on the book industry to collaborate in creating more nation-wide events like World Book Night in order to enhance the dialogue around books. The Waterstone's m.d told the Book Industry Conference forum... Continue reading at The Bookseller
[ The Bookseller | 2011-05-18 00:00:00 UTC ]
More news stories like this