Content about Barnes & Noble Inc.

New York -- Barnes & Noble Inc. founder and chairman Leonard Riggio agreed on Wednesday to forgo $29 million from a sale of one of his companies to the book retailer in order to settle a shareholder lawsuit, according to court documents, Reuters reported.

The lawsuit goes back to a 2009 agreement by the chain to buy back Barnes & Noble College Booksellers Inc. for $514 million from Riggio.

New York City -- Barnes & Noble Inc. said Monday that it plans to expand an in-store pilot boutique from its current 10 units to 25.

The 200-sq.-ft. Penguin store-in-stores sell Penguin book titles and merchandise; the Penguin banner is owned by Pearson PLC.

“The sales have been incremental rather than cannibalizing Penguin sales elsewhere in the store because it’s a different experience,” John Makinson, CEO of Pearson PLC’s Penguin Group, told the Wall Street Journal.

New York - Barnes & Noble Inc. reported Tuesday that it narrowed its loss to $12.6 million in its fiscal second quarter, compared with a loss of $24 million in the year-ago period. Results missed Wall Street expectations, and the book seller has issued a weak outlook for the third quarter and the full year.

Revenue surged 64% to $1.91 billion, attributed to the company’s acquisition of its college book unit. Without the acquisition, sales rose 1%.

Same-store sales fell 3.3%.