Barnes & Noble’s Bad Christmas: Nobody Wants a Nook

  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Barnes and Noble

Barnes & Noble (NYSE:BKS) unveiled predictably lackluster holiday sales results, as the struggling bookstore chain still can’t seem to get consumers interested in its Nook e-reader.

Retail sales at Barnes & Noble’s bookstores and website brought in $1.1 billion in revenue, a drop of 6.6 percent year-over-year, something the store attributed to a 5.5 percent fall in comparable sales and store closures. Results for the company’s Nook segment were even worse, falling 60.5 percent in comparison to 2012′s holiday results and only making $125 million for the nine weeks ended December 28.

Sales of Nook devices and accessories dropped 66.7 percent to $88.7 million due to fewer devices sold and lower prices. Sales of digital content for Nook devices also declined, falling 27.3 percent to $36.5 million.

Before the holidays, Barnes & Noble enlisted 30 Rock actor Jack McBrayer for commercials advertising both the Nook and the company’s brick-and mortar-stores as the perfect place to shop for anyone in the family. It looks as though even the recognizable actor couldn’t convince people to buy Nooks over the holidays.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business