Barnes & Noble Posts Higher Sales
Barnes & Noble says sales for its fiscal fourth quarter sales increased 0.4% to $1.4 billion as compared to the prior year. On a same-store basis, however, sales gained 4.5% for the quarter. And its consolidated fourth quarter net loss improved 3%, compared to the prior year’s $57.7 million. The company also says it will now report results for a separate “NOOK” operating segment.
“We grew our business in 2012 while continuing to make the necessary investments for the future of the business,” William Lynch, CEO, says in its release.
“In digital, our NOOK content sales continued to explode with 119% year-on year growth. In the quarter we also announced a historic new partnership with Microsoft that will include a significant investment in Newco, and that will capitalize the company to fuel continued growth in digital and international expansion. Lastly, we announced NOOK Simple Touch with GlowLight, that we started shipping in the first quarter of fiscal 2013, which has quickly become the highest rated eReader in the market.”