Barnes & Noble posts 3Q loss as Nook costs mount
Thursday, February 28, 2013 - 13:30
in Mathematics & Economics
The digital business is weighing on Barnes & Noble Inc., the largest traditional U.S. bookseller. The company posted on Thursday a loss in the fiscal third quarter, hurt by weak sales during the all-important holiday quarter for its Nook e-book readers as well as at its bookstores. Nook revenue fell 26 percent, and the company has begun cutting costs at the unit due to the sharp decline.