Barnes & Noble shares fall as Nook losses grow

Feb 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: Sony's PlayStation 'gradually coming back'

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Barnes & Noble 4Q loss narrows

Jun 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.

Barnes & Noble unveils $199 Nook Tablet

Feb 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 falls on guidance cut, Nook review

Jan 05, 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 ...

'Fifty Shades' helps Barnes & Noble in 1Q

Aug 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.

Barnes & Noble's unveils $249 Nook Tablet

Nov 07, 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.

Recommended for you

Sony's PlayStation 'gradually coming back'

13 hours ago

Sony was still struggling Saturday to fully restore its online PlayStation system, three days after the Christmas day hack that also hit Microsoft's Xbox, reporting that services were "gradually coming back."

Uber broke Indian financial rules: central bank chief

13 hours ago

India's central bank chief lashed out at Uber, already under fire over the alleged rape of a passenger, saying the US taxi-hailing firm violated the country's financial regulations by using an overseas payment ...

Taxi app Uber defies ban in Spain

Dec 26, 2014

Smartphone car-ride service Uber vowed Friday to keep operating in Spain despite a ban following a lawsuit by taxi drivers and said it would fight the case in court.

Sony film mess reflects gadgets-entertainment gap

Dec 26, 2014

Sony's iconic gadgetry and the star appeal of Hollywood may have appeared to be a perfect match when the electronics giant bought Columbia Pictures in 1989. A quarter century later, it's apparent that Sony ...

User comments : 0

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.