Dive Summary:
- Revenue for Barnes & Noble stores declined to $1.3 billion total, a loss of over $87 million for the retailer, based on the company’s earnings report.
- Sales for the company’s Nook products dipped 20% compared to the same period during 2012, as device and digital content sales both experienced steep losses.
- “While I reserve the right to pursue an offer in the future, I believe it is in the company’s best interests to focus on the business at hand,” Barnes & Noble CEO Leonardo Riggio said in a statement.
From the article:
Barnes & Noble’s retail segment, which consists of its bricks-and-mortar stores and BN.com, also fared badly: Revenues were $1.0 billion for the quarter, down 9.9 percent over last year.
