Tuesday, June 19, 2012

Barnes & Noble's Q4 financial results

Reuters reports that Barnes & Noble released its Q4 financial results Tuesday morning:
  • Revenue was $1.38 billion, up slightly from a year ago but below analysts' estimates of $1.48 billion. 
  • The company had a net loss of $57.7 million, or $1.08/share, slightly lower than its Q4 loss of $59.4 million, or $1.04/share, a year ago. 
  • Same-store sales at its 700 superstores were up 4.5% compared with Q4 last year. 
  • The company had higher-than-expected returns of Nook devices from retailers after the 2011 holiday season, and a decline in sales of its eReaders and tablets in Q4. 
  • Revenues at its Nook business, including eBooks, eMagazines and apps as well as devices, fell 19% to $164 million in the quarter. 
  • B&N now has 27% of the U.S. eBook market, compared to 60% for Amazon. (That leaves 13% for Apple, Kobo, Sony and everyone else.) 

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