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BUSINESS
February 28, 2013 | By Tiffany Hsu
Barnes & Noble said sales at its Nook e-reader and digital-book unit, often touted as the company's best hope for the future, tanked 26% during the crucial holiday quarter as the bookstore giant experienced weakness across all its categories. A decline in the number of Nook devices sold during the company's fiscal third quarter, which ended Jan. 26, compelled Barnes & Noble on Thursday to announce a cost reduction program in the division as well as plans to cut e-reader prices. Barnes & Noble owns 78% of the Nook unit, with Microsoft and Pearson.
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BUSINESS
December 28, 2012 | By Shan Li
Bookstore chain Barnes & Noble said Friday its holiday sales look disappointing and that publisher Pearson Plc took a 5% stake in its Nook e-reader business. In a regulatory filing, the New York company said early reports indicate its holiday sales fell below expectations and its Nook unit won't meet initial projections for the fiscal year. But news that Pearson agreed to invest $89.5 million in cash into its Nook division, which values the business at $1.79 billion, sent shares of Barnes & Noble up 6.3% to $15.25 in midday trading.
BUSINESS
June 25, 2013 | By Salvador Rodriguez
Barnes & Noble announced its exit from the tablet manufacturing business Tuesday, blaming its line of Nook color-screen tablets for poor annual earnings. The book retailer said a 16.8% drop in sales of all Nook devices -- including its black-and-white e-readers -- for the 2013 fiscal year was a big reason for the company's overall fiscal year revenue being down more than 4% to $6.8 billion. The company based in New York City said its unsold inventory of Nooks was key to company losses of nearly $155 million for the year, nearly 136% higher than net losses posted for fiscal year 2012.
BUSINESS
May 18, 2005 | From Times Wire Services
Barnes & Noble Inc., the nation's largest bookseller, announced a 13% profit decline in its fiscal first quarter but forecast second-quarter results above Wall Street expectations because of the expected arrival of the sixth "Harry Potter" book in July. For the three months ended April 30, Barnes & Noble had net income of $9.9 million, or 13 cents a share, down from $11.4 million, or 16 cents, a year earlier.
BUSINESS
October 25, 2012 | By Tiffany Hsu, Los Angeles Times
Barnes & Noble, the country's largest bookseller, said data thieves hacked into payment devices and may have stolen customer credit and debit card information at 63 of its stores nationwide, including 20 in California. Hackers planted bugs in a single card reader at each of the stores, the company said. Customers swipe their payment cards through the machines and, if using a debit card, enter their personal identification number. Those PINs may be at risk, along with other account information, potentially giving thieves access to customers' private accounts.
BUSINESS
September 25, 2010 | Andrea Chang, Los Angeles Times
After months of bitter attacks, Los Angeles billionaire Ronald Burkle and Barnes & Noble Chairman Leonard Riggio are expected to face off Tuesday in the next chapter of a prolonged battle over the world's largest bookseller. On one side is Burkle, 57, who made his fortune in supermarket chains and has been rapidly accumulating Barnes & Noble stock since late last year, raising the prospect that he is seeking control of the company. On the defensive is Riggio, 69, who grew Barnes & Noble from a single store in 1971 to the 1,350-outlet behemoth it is today, one that critics have blamed for the demise of small, independent bookstores.
BUSINESS
January 28, 2013 | By Tiffany Hsu
Barnes & Noble will shut up to a third of its brick-and-mortar bookstores over the next decade as reading habits change and digital publications evolve, according to a new report. The chain will end up with 450 to 500 stores in 10 years, down from the 689 physical stores it has now, according to Mitchell Klipper, chief executive of Barnes & Noble's retail group. That evens out to about 20 stores shuttered yearly over the period, Klipper said in an interview with the Wall Street Journal.
BUSINESS
April 12, 2012 | By Deborah Netburn
E-reader lovers, get ready to toss your clip-on light--Barnes & Noble has just announced a new version of its Nook Simple Touch Reader that has an adjustable glow light built right in, making it possible to read in the dark -- unobtrusively. This is excellent news for middle-of-the-night readers, partners of middle-of-the-night readers who can't sleep with the light on, and parents trapped in a dark hotel room with a sleeping baby at 7:45 p.m. The new Nook will hit stores in May and will cost $139 -- about $40 more than the original Nook.
BUSINESS
August 22, 2008 | From Times Wire Services
Barnes & Noble Inc. posted a 15% drop in second-quarter profit to $15.4 million, or 27 cents a share, compared with $18.05 million, or 26 cents, a year earlier. Sales slipped 1.6% to $1.22 billion.
BUSINESS
November 22, 2000 | Bloomberg News
Gemstar-TV Guide International Inc. has held talks with Barnes & Noble Inc. about merging their businesses, the Wall Street Journal reported, citing unidentified people familiar with the matter. Pasadena-based Gemstar, the owner of TV Guide and the developer of VCR Plus recording technology, has begun promoting electronic books and is interested in combining with the biggest U.S. bookseller to ensure a steady supply of material from publishers, the paper said.
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