Courtesy of Publishers Weekly:
With sales of its Nook digital devices falling short of expectations for the holiday season, Barnes & Noble reported that sales for the nine week period ended December 29 fell at both its retail stores and in its Nook segment. In the retail trade segment sales declined 10.9 percent, to $1.2 billion, which the company attributed to an 8.2 percent decline in comparable store sales, store closures and lower online sales. In the Nook segment, sales fell 12.6 percent to $311 million as a 13.1 percent increase in sales of digital content was offset by weaker than expected sales of Nook devices.
The poor showing of the digital devices even impacted the stores with B&N reporting that excluding Nook results comp store sales were down 3.1 percent due to lower customer store traffic. Lower Nook unit sales and lower average selling prices were cited as the reasons for the drop in Nook segment revenue. Sales of core products in the stores (which includes books) were better than expected and the company said it still expects comps at the stores to fall by low to mid single digits for the fiscal year.
You can read the rest of the article here: Weak Nook Sales Lead to Disappointing B&N Holiday
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