The Kindle Fire may have singed Barnes & Noble’s Nook this holiday season. On Thursday, B&N lowered its fiscal 2012 forecast for Nook sales from $1.8 billion to $1.5 billion. The company is also mulling a spinoff of its Nook e-reader business.
B&N’s share price dropped more than 20 percent on the news. The company has pushed a large investment into the production and sales of Nook e-reader devices, so the lowered forecast has investors worrying about the retailer’s ability to compete with Amazon’s Kindle e-reader.
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Would Lopping Off Nook Biz Mean Lights Out for B&N?
Posted by: Rob Spiegel January 5, 2012 12:38 PMThe Kindle Fire may have singed Barnes & Noble’s Nook this holiday season. On Thursday, B&N lowered its fiscal 2012 forecast for Nook sales from $1.8 billion to $1.5 billion. The company is also mulling a spinoff of its Nook e-reader business.
B&N’s share price dropped more than 20 percent on the news. The company has pushed a large investment into the production and sales of Nook e-reader devices, so the lowered forecast has investors worrying about the retailer’s ability to compete with Amazon’s Kindle e-reader.