Barnes & Noble's Nook Revenue Plummets 32%

Barnes & Noble hasn't given up on the Nook yet, but the same can't be said of consumers

The bookseller revealed in its second quarter earnings report Tuesday that revenue from its Nook devices and digital content declined by 32% from the same period a year earlier, due to lower demand and repeated price cuts to compete with others like Amazon. That decline, combined with a drop in retail revenue, led Barnes & Noble to report an 8% decline in overall revenue year-over-year

Michael Huseby, president of Barnes & Noble and CEO of the Nook Media division, tried to put a positive face on the news by talking up the company's plans for the holiday season and its "full selection" of Nook devices, including the recently released Nook GlowLight e-reader Read more...