Barnes & Noble narrows loss in Q4, looks ahead to international growth
New York -- Barnes & Noble reported Tuesday that it narrowed its loss for the quarter ended April 28 to $57.6 million, compared with a loss of $59.4 million in the year-ago fourth quarter.
Revenue was essentially flat at $1.38 billion, missing Wall Street’s expected $1.48 billion in revenue. Retail sales rose 5% to $1.05 billion and Nook sales fell 11% to $164 million, as the company took back its Nook Simple Touch e-reader from retailers to make room for new inventory.
Same-store sales increased 4.5%.
“We grew our business in 2012 while continuing to make the necessary investments for the future of the business,” said William Lynch, CEO. During the quarter, Barnes & Noble announced its partnership with Microsoft in Newco, intended to fuel continued growth in digital and international expansion.