Barnes & Noble shares fall as Nook losses grow

February 14, 2013 by The Associated Press

(AP)—Barnes & Noble Inc. shares fell Thursday after the retailer said that it expects losses from its Nook e-reader business to be larger in 2013 than last year.

The largest traditional U.S. bookstore has invested heavily in its business as consumers increasingly shop online and read e-books. But the Nook faces tough competition from other devices like Apple's iPad Mini, Amazon's Kindle and Google's Nexus tablet.

Barnes & Noble said Wednesday after the market closed that it expects Nook media revenue of less than $3 billion. It also anticipates a loss for the unit from earnings before interest, taxes, depreciation and amortization to exceed the $262 million loss recorded in its 2012 fiscal year.

This follows a report from the retailer in January that its Nook unit revenue fell 12.6 percent to $311 million during the critical holiday period.

The company is scheduled to report its third-quarter results on Feb. 28.

Shares sank 93 cents, or 6.6 percent, to $13.27 in midday trading Thursday. Its shares have traded between $10.45 and $26 in the past 52 weeks.

Explore further: Barnes & Noble's unveils $249 Nook Tablet


Related Stories

Barnes & Noble's unveils $249 Nook Tablet

November 7, 2011

Barnes & Noble unveiled a $249 Nook Tablet Monday just ahead of the crucial holiday shopping season as the book retailer fights for a larger share of the lucrative e-book market.

Barnes & Noble falls on guidance cut, Nook review

January 5, 2012

(AP) -- Barnes & Noble is considering options for its quickly growing but expensive Nook e-book reading business, its latest attempt to regain profitability as the publishing industry adapts to the rising popularity of digital ...

Barnes & Noble unveils $199 Nook Tablet

February 21, 2012

US bookseller Barnes & Noble unveiled a new version of its Nook tablet computer Tuesday, a device with the same $199 price tag as Amazon's Kindle Fire.

Barnes & Noble 4Q loss narrows

June 19, 2012

(AP) — Barnes & Noble said Tuesday that its fiscal fourth-quarter loss narrowed as the company continues to invest in its Nook e-reader business.

'Fifty Shades' helps Barnes & Noble in 1Q

August 21, 2012

(AP) — Barnes & Noble's fiscal first-quarter loss narrowed, lifted by sales of e-books and other digital content as well as sales of the "Fifty Shades of Grey" series at its bookstores.

Recommended for you

On soft ground? Tread lightly to stay fast

October 8, 2015

These findings, reported today, Friday 9th October, in the journal Bioinspiration & Biomechanics, offer a new insight into how animals respond to different terrain, and how robots can learn from them.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.