The company’s position appears to be, it could have been worse. Barnes & Noble’s bookstores and online service generated revenues of $1.1B in the nine weeks ending December 28, it says today. That’s down 6.6% vs the period last year. But most of the decline is due to store closures. At stores open at least a year, revenues just fell 0.2% not including Nook tablets and e-readers. “We are pleased with our holiday sales results, especially our core comparable bookstore sales, which were essentially flat and an improvement as compared to the first half of the year,” newly named CEO Michael Huseby says. It’s harder to sugar-coat the story at Nook. Its revenues – which include digital content, devices and accessories — fell 60.5% to $125M. Devices and accessories fell 66.7% to $88.7M which the company attributes to “lower unit selling volume and lower average selling prices.” Digital content fell 27.3% to $36.5M “due to lower device unit sales and lower average selling prices.” Huseby notes that B&N had no new tablets this year, a tough comparison with last year when it had two. Without new products “we executed our plan to sell through our existing high-quality devices.” The company will have more to say on February 27 when it discloses its fiscal Q3 financials.
By DAVID LIEBERMAN, Financial Editor | Thursday January 9, 2014 @ 12:14pm ESTTags: Barnes & Noble, Nook
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This article was printed from http://www.deadline.com/2014/01/barnes-nobles-sales-fell-over-holiday-season-with-big-declines-for-nook/
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