For Barnes & Noble
Posted by ICv2 on January 8, 2018 @ 4:39 am CT
Non-book categories were the biggest problem, with declines in the gift, music, and DVD categories accounting for nearly half of the same store sales decline.
The 6.4% holiday season decline reflected an improvement over the dismal results in the company’s most recent quarter (ended October 28), which was down 7.9%, with same store sales down 6.6%.
The company has already outlined a turnaround plan, which focuses on reducing store sizes and cutting the number of SKUs it offers in secondary categories, renewing its focus on books (see "Barnes & Noble Cutting Toys and Games, Gift SKUs").
The stores aren’t the company’s only problem, with online sales declining 4.5% vs. the previous year; it’s becoming increasingly difficult for even strong retail brands to compete against the Amazon juggernaut. Amazon accounted for 44% of all e-commerce sales in 2017, according to a study by One-Click Retail, which tracks e-commerce sales using website indexing, machine learning, and proprietary software.
Daniel Craig to Reprise Role
March 16, 2018
Danny Boyle has confirmed that he is working on the next installment in the James Bond movie franchise.