Business
Barnes & Noble posts 3Q loss as Nook costs mount
Posted: Feb 28, 2013 7:15 AM
Updated: Feb 28, 2013 7:16 AM
NEW YORK (AP) The digital business is weighing on Barnes & Noble Inc., the largest traditional U.S. bookseller.
Barnes & Noble on Thursday posted a surprise loss of $6.1 million, or 18 cents per share, in its fiscal third quarter, which ran through Jan. 26.
Analysts were expecting a profit of 53 cents per share, and the stock fell 3.5 percent in premarket trading.
The company blamed the loss in part on charges stemming from weaker-than-expected sales of Nook e-readers during the holiday shopping season.
In the same period the year before, the New York company posted a profit of $52 million, or 71 cents per share.
Revenue fell 9 percent to $2.22 billion analysts polled by FactSet predicted a more modest decline, to $2.4 billion.
