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Barnes & Noble posts huge loss, will stop selling Nook tablets

Written by Andre Yoskowitz (Google+) @ 25 Jun 2013 20:51 User comments (2)

Barnes & Noble posts huge loss, will stop selling Nook tablets Barnes & Noble reported its most recent quarterly earnings today, and they were not pretty.
The company posted a net loss of $118.6 million on revenue of $1.3 billion.

For the year, the company lost $154.8 million on revenue of $6.8 billion. Quarterly revenue for its retail business (brick and mortar stores and BN.com) was down 10 percent to $948 million, although the company said Fifty Shades of Grey inflated last year's numbers.

Nook Media, the company's failing e-reader and media division, posted a meager $108 million in quarterly revenue, down 34 percent from the same quarter last year.

The company's tablets, including the Nook HD+, have recently been firesaled in an effort to boost sales. The company's high-end $279 HD+ is now selling for $149 with a 9-inch Full HD screen and access to the Google Play Store.

Barnes & Noble has also announced it will open up the Nook brand to OEMs who can build their own tablets and license the Nook platform. The company will no longer offer their own tablets, but will continue to sell e-readers like the Simple Touch Glow.

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2 user comments

126.6.2013 2:55

Disappointing.


Its a lot easier being righteous than right.


DSE VZ300-
Zilog Z80 CPU, 32KB RAM (16K+16K cartridge), video processor 6847, 2KB video RAM, 16 colours (text mode), 5.25" FDD

226.6.2013 13:30

Amazon was too much for them.

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