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 ]
News tagged with: #top priority #innovative ways #book industry #electronic readers

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Houghton Mifflin Pulls Another Jonah Lehrer Book From Stores

Following the scandal over Jonah Lehrer's book "Imagine" last year, Houghton Mifflin has pulled his earlier bestseller "How We Decided" from stores, citing “significant problems" with the book. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2013-03-03 00:00:00 UTC ]
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Danish Publisher Network to Use Real Time Bidding

Denmark&rsquo;s leading publishers are combining with Rubicon Project to launch The Danish Publisher Network, in order to offer their online inventory and data to advertisers via real-time trading. Publishers including Politiken, Jyllands-Posten, ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2013-02-26 00:00:00 UTC ]
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Nook's future uncertain as Riggio bids for B&N

Barnes & Noble founder Leonard Riggio has said he plans to buy the retail assets of the chain... Continue reading at The Bookseller

[ The Bookseller | 2013-02-25 00:00:00 UTC ]
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More store closures confirmed at HMV

HMV's administrators have announced that a further 37 shops will close, bringing the number... Continue reading at The Bookseller

[ The Bookseller | 2013-02-20 00:00:00 UTC ]
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HMV to close 66 stores

HMV is to close 66 of its stores, making 930 of its staff redundant, as it puts its Oxford Street... Continue reading at The Bookseller

[ The Bookseller | 2013-02-07 00:00:00 UTC ]
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In the Future, WIll Libraries Look More Like Apple Stores?

A new library in Texas appears to be normal, until you realize it doesn’t have any books in it. In Bexar County, Texas, the center of the San Antonio metropolitan area’s breakneck growth, a population boom has left some residents without adequate library access. A new initiative will fill... Continue reading at Fast Company

[ Fast Company | 2013-01-17 00:00:00 UTC ]
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Bloomsbury reports end-2012 profit rise

Bloomsbury has reported a year-on-year profit boost in the final quarter of 2012, at the same... Continue reading at The Bookseller

[ The Bookseller | 2013-01-16 00:00:00 UTC ]
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Condé Nast Time Ends for Maurie Perl

Maurie Perl, the longtime chief spokeswoman at Condé Nast, is hanging it up after 21 years at the company. For 12 years, Perl built and oversaw the PR machine of the publishing company, reporting to parent Advance Publications Chairman Si Newhouse and then-Condé Nast CEO Steve Florio, who since... Continue reading at AdWeek

[ AdWeek | 2013-01-09 00:00:00 UTC ]
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Happy holidays for indie bookstores – but not for Barnes

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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Sony opens German e-reader store

Sony has opened an e-reader store in Germany, selling digital titles in eight different... Continue reading at The Bookseller

[ The Bookseller | 2012-12-13 00:00:00 UTC ]
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Downer to open new store

Former Borders UK c.e.o. Philip Downer is to open a new store, selling books, gifts and... Continue reading at The Bookseller

[ The Bookseller | 2012-12-06 00:00:00 UTC ]
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Txtr Launches E-Book Store in Denmark

Berlin-based startup txtr has launched a Danish ebook store, with special promotions from two Danish publishers set to begin on December 3rd. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-11-30 00:00:00 UTC ]
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McGraw-Hill Education Sold for $2.5 Billion to Investor

McGraw-Hill has signed an agreement to sell its education business, McGraw-Hill Education, to investment firm Apollo Global Management for $2.5 billion. Continue reading at Publishing Perspectives

[ Publishing Perspectives | 2012-11-29 00:00:00 UTC ]
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Take Your Child to a Bookstore Day is celebrated at stores around the world

Founded by a writer and mother, Take Your Child to a Bookstore Day is set for Dec. 1 this year. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2012-11-27 00:00:00 UTC ]
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Barnes, Miller, Obreht on IMPAC longlist

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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DC Comics brings a veritable justice league of titles to Kindle, iBooks and Nook Stores

Not that there's been any lack of ways to get Batman or Supes on your chosen tablet, between Comixology and the devoted DC app, but if you happened to need on more, the publisher announced today that it will be bringing its entire line to three prominent e-bookstores. Justice League, Batman,... Continue reading at Engadget

[ Engadget | 2012-11-08 00:00:00 UTC ]
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Springer CEO Says "Free Beer" Era for Internet Ending

(Reuters) - Germany's largest newspaper publisher will introduce a paywall for its flagship national daily Die Welt by the end of this year and is confident competitors will follow suit, Axel Springer Chief Executive Mathias Doepfner said. In an ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2012-10-18 00:00:00 UTC ]
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