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Barnes & Noble Q1 Loss Narrows on “Fifty Shades” Sales

Purchases of digital books for its Nook e-reader rose sharply


Barnes & Noble (NYSE:BKS) announced on Tuesday a $41 million loss for its fiscal first quarter, less than the $56.6 million loss it posted during the same period last year.

Revenue at the bookseller rose to $1.45 billion, up 2% from $1.42 billion in 2011.

Barnes & Noble Goofs, Retracts CEO Bonus
Barnes & Noble Goofs, Retracts CEO Bonus

Shares of Barnes & Noble fell more than 2% in Tuesday morning trading.

Same store sales at its book stores rose 4.6% compared to last year, driven in part  by strong sales of the spicy novel “Fifty Shades of Grey.” Excluding sales of its Nook electronic book-reading tablet, same-store sales jumped 7.6%, while college bookstore revenues slipped 2% compared to last year.

Sales at its Nook division remained unchanged from last year at $192 million, as sales of the device slipped, but sales of eBook and digital content for the e-reader increased 46% over last year.

Recently, Barnes & Noble cut the price for the lower-end Nook model to under-price it compared to Amazon‘s (NASDAQ:AMZN) Kindle Fire, and also trimmed the price of its higher end unit by $50. Both the Nook and the Kindle compete with Apple‘s (NASDAQ:AAPL) iPad and its iBooks store.

Article printed from InvestorPlace Media,

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