From The Financial Times:
Look away, bookstore lovers.
Barnes & Noble has just released its latest quarterly results, and they do not make for a pretty read.
The country’s last remaining major bookstore chain reported yet another big sales drop during the holiday quarter as consumers continued to shun brick and mortar shops and do their shopping online.
. . . .
The results come just weeks after Barnes & Noble announced a new cost-cutting plan that will see it lay off workers across its 630 stores. The company did not disclose how many of its 26,000 employees were affected.
. . . .
Sandell Asset Management, one of the company’s top investors, had urged the company to sell itself, arguing that its “unconscionably low” market value failed to reflect its status as the “one truly national bookstore chain”.
Link to the rest at The Financial Times