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