Barnes & Noble released its first-quarter earnings report on Tuesday, revealing that sales of its Nook e-reader and e-books have been helping to offset the company’s sinking physical book sales. Total revenue was up 2 percent to $1.42 billion. Store revenue was down 3 percent to $1 billion. Online revenue was up a whopping 37 percent to $198 million. The retailer posted a loss of $56.6 million, or 99 cents a share, for the quarter. Barnes & Noble predicts a bump of between $150 and $200 million in the next year, with an expected influx of shoppers coming from the failed Borders chain.
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Nook May Be Barnes & Noble's Salvation
Posted by: Rob Spiegel August 30, 2011 12:04 PMBarnes & Noble released its first-quarter earnings report on Tuesday, revealing that sales of its Nook e-reader and e-books have been helping to offset the company’s sinking physical book sales. Total revenue was up 2 percent to $1.42 billion. Store revenue was down 3 percent to $1 billion. Online revenue was up a whopping 37 percent to $198 million. The retailer posted a loss of $56.6 million, or 99 cents a share, for the quarter. Barnes & Noble predicts a bump of between $150 and $200 million in the next year, with an expected influx of shoppers coming from the failed Borders chain.