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 4Q loss narrows

0 shares

Related Stories

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.

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 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 ...

'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.

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.

Recommended for you

Swiss unveil stratospheric solar plane

December 7, 2016

Just months after two Swiss pilots completed a historic round-the-world trip in a Sun-powered plane, another Swiss adventurer on Wednesday unveiled a solar plane aimed at reaching the stratosphere.

Solar panels repay their energy 'debt': study

December 6, 2016

The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday.

Wall-jumping robot is most vertically agile ever built

December 6, 2016

Roboticists at UC Berkeley have designed a small robot that can leap into the air and then spring off a wall, or perform multiple vertical jumps in a row, resulting in the highest robotic vertical jumping agility ever recorded. ...

0 comments

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.