Barnes & Noble falls on guidance cut, Nook review

Retail sales are up but profits are down as noted in Profit Warnings at Target, Kohl’s, J. C. Penney, American Eagle However, shrinking profits are one thing, huge losses another. On Thursday, Barnes & Noble increased its projected loss per share for the current fiscal year to between $1.10 and $1.40, from the 30 cents to 70 cents it reaffirmed one month ago.

After nine long months with a For Sale sign on its door and nary a nibble, the nation’s largest bookstore chain has attracted a potential buyer.

NEW YORK — The digital business is weighing on Barnes & Noble Inc., the largest traditional U.S. bookseller. The company posted on Thursday a loss in the fiscal third quarter, hurt by weak sales during the all-important holiday quarter for its Nook e-book readers as well as at its bookstores. Nook revenue fell 26 percent, and the company has begun cutting costs at the unit due to the sharp decline. Barnes & Noble, based in New York, has been struggling to find its place as more readers have shifted to electronic books and competition has grown from discount stores and online rivals.

NEW YORK — The digital business is weighing on Barnes & Noble Inc., the largest traditional U.S. bookseller. The company posted on Thursday a loss in the fiscal third quarter, hurt by weak sales during the all-important holiday quarter for its Nook e-book readers as well as at its bookstores. Nook revenue fell 26 percent, and the company has begun cutting costs at the unit due to the sharp decline. Barnes & Noble, based in New York, has been struggling to find its place as more readers have shifted to electronic books and competition has grown from discount stores and online rivals.