Shares in Barnes & Noble were trading up ahead of the opening bell today as the company reported fiscal 2013 Q1 results. The bookseller’s consolidated Q1 net loss narrowed 28% to $41M as compared to a loss of $56.6M a year ago. Consolidated revenues were $1.5B, up 2.5% from the year prior. Digital content sales were up 46% while bookstores saw growth thanks in part to market consolidation, but also to the best-selling Fifty Shades Of Grey series. Retail, which includes bricks & mortar outlets and BN.com, was up 2% over the same period in 2011 with $1.1B in revenues. Overall, the Nook business unit was essentially flat compared to last year with $192M in revenues. On Monday, Barnes & Noble said it would begin offering the Nook e-readers and digital content in the UK. Products will be available through new online storefront www.nook.co.uk beginning in mid-October, and also through partnerships with leading retailers.
By NANCY TARTAGLIONE, International Editor | Tuesday, 21 August 2012 14:54 UKTags: Barnes & Noble, Fifty Shades Of Grey, Nook
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This article was printed from http://www.deadline.com/2012/08/fifty-shades-grey-helps-barnes-noble-narrow-losses/
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