When compared to a $32 million loss during the same quarter last year, Barnes saw a 59.4% drop this quarter. The company blames an increased interest in the Nook, along with liquidation sales from competitor Borders’ bankruptcy. While revenue did increase four percent, same-store sales declined by 2.9 percent.
Online sales proved to be important to keeping Barnes & Noble afloat this last quarter, showing an increase of $217.3 million, representing a 54% increase. College textbooks as well saw an increase over the last quarter, showing an increase in profits of $211.2 million. In May the company was shocked by a takeover from John Malone’s Media library, a move that Barnes & Noble leaders are still reviewing.