From The New York Times:
Barnes & Noble had another not-so-bad quarter, which these days counts as good for the struggling bookstore chain. When the company reported its earnings on Thursday for the third fiscal quarter of 2016, there were signs that the steep losses that have plagued it in recent years may finally be leveling off.
Part of this is a result of the company’s push to be more than just a bookstore. Its retail sales last quarter were $1.4 billion, down 1.8 percent compared with the same period a year earlier. But sales of other goods like toys and games grew 12.5 percent. The increase was driven by interest in items like adult coloring books and vinyl records.
. . . .
The company’s results come at a time when bookstores may be making a comeback and e-books, which have been perceived as print killers, are losing popularity.
In the first 10 months of 2015, according to data gathered by the Association of American Publishers:
• E-book sales in the country fell 12.3 percent.
• Paperback book sales grew 12.4 percent.
. . . .
Barnes & Noble, however, hasn’t uniformly benefited from this trend. It has had to close more than 10 percent of its stores in six years.
• In 2010, the chain had 720 retail stores nationwide;
• In 2016, it had 640 retail stores.
And although Barnes & Noble still plans to close about eight stores this fiscal year, that’s not such bad news: It’s the lowest number of store closings in 16 years.
Link to the rest at The New York Times and thanks to Dave for the tip.