Barnes & Noble reported a $13.2 million profit in the quarter ending October 26th, despite sales that were down 8% overall. The profitability improvement came from reduced costs and improved margin.
Drilling down into the sales in stores, B&N reported core same store bookstore sales, which exclude Nook sales, down 3.7% for the quarter, driven primarily by the tough comparisons to the Fifty Shades of Grey hit a year ago. Online sales and Nook sales were down more than the core bookstore sales, and there were some net store closures.
Digital book sales were down 21,2% (also affected by 50 Shades of Grey, but also by overall digital trends, see "Ebooks Falling"), and digital device sales were down 41.3%.
Sales in the toys and games category performed better than books, the company said.
The $13.2 million in profits for the quarter was a significant improvement over the year-ago quarter, when the company made $500,000, and over the previous quarter, when the company lost $87 million (see "B&N Reverses Course, Will Continue with Nook").
Despite Sales Decline
Posted by ICv2 on November 26, 2013 @ 3:42 pm CT
May 26, 2017
Australian game store chain, Good Games, has announced it will open its second U.S. store this summer.
Convention Responds With Heightened Security, Costume Props Ban
May 26, 2017
After an armed man was arrested at Phoenix Comicon Thursday, the convention organizers have heightened security, which includes banning costume props and limiting access to the convention center.