Barnes and Noble continues to narrow its losses. In the first quarter of fiscal 2015, the company’s comparable sales were bolstered by improving physical book industry trends, merchandising initiatives and store promotions.
In perhaps the most rapid shift in consumer behavior ever witnessed, the number of people who intend to buy something online has doubled from just three years ago, according to Nielsen’s new Global Survey of e-commerce.
Just a couple of days after news that Barnes & Noble permanently closed its onetime flagship on Fifth Ave. in New York, the company reported a revenue decrease of 6.6% for the nine-week holiday period ending Dec. 28, 2013 in its retail segment.
Barnes & Noble faces all the same headwinds as other retailers this holiday season, but its challenges are compounded by the fact that it continues to derive the majority of its revenues from declining sales of physical books.
Barnes & Noble and Microsoft have completed their previously announced strategic partnership in Nook Media LLC, a recently formed Barnes & Noble subsidiary and a leader in the emerging digital reading and digital education markets.