From Paid Content:
Barnes & Noble has a $300m investment from Microsoft and will launch the Nook in the UK this fall. But the country’s largest bookstore chain is struggling to compete against Amazon. Nook device sales fell during Q1 2013, though digital content sales were up.
Barnes & Noble reported first quarter earnings for fiscal year 2013 on Tuesday morning. The bookstore chain’s revenues were up slightly, to $1.45 billion, and in line with analyst estimates of $1.48 billion. But Nook sales were flat, despite the launch of the Nook Tablet and front-lit Nook e-reader during the year.
The company reported a net loss of $41 million for the quarter, or $0.78 per share, compared to a loss of $57 million, or $0.99 per share, last year.
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Barnes & Noble no longer breaks out BN.com sales; rather, it lumps together bookstore and online sales into one retail segment. While bookstore sales rose, BN.com sales fell. Retail revenues were $1.1 billion for the quarter, up two percent over last year, with comparable bookstore sales up 4.6 percent. The company attributed the gain to “the liquidation of Borders’ bookstores in fiscal 2012 and strong sales of the Fifty Shades of Grey series.”
Link to the rest at Paid Content