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B&N Third Quarter: Nook Drags Down Results

28 February 2013

From Shelf Awareness:

At Barnes & Noble in the third quarter ended January 26, consolidated revenues fell 8.8%, to $2.2 billion, and the net loss was $6.1 million, compared to net earnings of $52 million a year ago.

. . . .

The company said that results were “adversely impacted” by the Nook, including $59 million in additional inventory charges because of unsold goods, $21 million in returns from partner retailers, $15 million in promotional allowances “to optimize future sales opportunities” and higher advertising charges.

Revenues for Barnes & Noble’s bookstores and BN.com businesses, which chairman Len Riggio said on Monday he wants to buy, fell 10.3%, to $1.5 billion in the quarter. The company attributed the decrease to a 7.3% decline in stores open at least a year, store closures and lower online sales.

Link to the rest at Shelf Awareness

Bookstores, Nook

2 Comments to “B&N Third Quarter: Nook Drags Down Results”

  1. He added that Nook and B&N stores “will continue to have a close relationship.”

    Close? Yes, we’re going to close this store and this store and…

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