Tuesday, August 24, 2010

Nook Drives 21% Increase in Revenue for Barnes & Noble

Barnes & Noble has reported a loss of $62.5 million for its first fiscal quarter ending July 31, compared to a profit of $12.3 million the year before, and despite a 21 percent increase in year-over-year revenue to $1.4 billion.

Sales at Barnes & Noble retail locations continued to decline (by 0.9 percent), while online sales jumped 42 percent to $145 million year-over-year, exceeding the company’s own expectations.

The company cited sales of its e-reading device, the Nook, as the driving force behind the increase in online revenue.

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