Is Barnes & Noble’s Nook Being Left Out in the Cold?
As consumers across the country and across the world continue to exchange their paperbacks for more battery-powered alternatives, tablet and e-reader sales have been doing quite well (to say nothing of the exploding e-book market), while the book industry has seen a steady decline.
One retailer, which has its feet dangling in both industries, is finding that one isn’t making up for the other. Barnes & Noble (NYSE:BKS) has been feeling a lot of heat lately in the slowing book industry, and efforts to compensate with its e-reader, the Nook, are not panning out.
The New York Times reports that prior to the release of the company’s third fiscal quarter on Thursday, the country’s largest bookseller warned that its Nook division would be posting losses that would exceed last year’s.
The 2012 fiscal year EBITDA losses for the Nook amounted to some of $262 million, though retail sales remained strong, according the Wall Street Journal…