Content about Barnes & Noble

New York -- Barnes & Noble announced on Friday that it would give away a free Nook Simple Touch e-reader, which retails for $79, to any customer who buys its high-definition Nook HD+ tablet between March 24 and March 31.

The offer is available at all Barnes & Noble stores, Barnes & Noble College Bookstores and online. It also is being offered through other retailers that sell Nook products, including Walmart.com, Target and Best Buy.
 

New York -- Barnes & Noble Inc. signed an employment agreement with CEO William Lynch to remain in his post for another two years, according to a filing with the U.S. Securities and Exchange Commission.

Lynch will receive the same compensation and benefits as before, but get an additional cash bonus of $1.8 million for his role in attracting investments from Microsoft Corp. and Pearson PLC in forming Nook Media LLC, according to a Reuters report.

New York -- Barnes & Noble reported on Thursday a loss in the fiscal third quarter, hurt by a 26% decline in revenue for its Nook e-book readers.
 
The company posted a loss of $6.1 million quarter through Jan. 26, compared to a profit of $52 million in the year-ago period. The retailer blamed the loss partially on charges stemming from weaker-than-expected sales of Nook e-readers during the holiday shopping season.
   
Revenue fell 9% to $2.22 billion. Analysts had predicted sales of $2.4 billion.

New York -- Leonard Riggio, founder and chairman of Barnes & Noble, has told the company’s board that he wants to make an offer for its retail business. Riggio is Barnes & Noble’s largest shareholder, owning nearly 30% of the company.

The offer would not include Nook Media, Barnes & Noble’s e-book division.

Barnes & Noble said in a statement that it had formed a special board committee of three directors to consider Riggio’s proposal. There is set timetable for the process.

New York -- Barnes & Noble is planning to shutter approximately one-third of its stores during the next 10 years, CEO Mitchell Klipper said in an interview with the Wall Street Journal. As of Jan. 23, the company operated 689 stores. (The company also operates a separate division of 674 college book stores.)

“In 10 years we'll have 450 to 500 stores,” said Klipper in the interview, who noted that, even with the reduced store count, “it’s a good business model.”

Hermosa Beach, Calif. -- Virtual Piggy announced that it has expanded its digital distribution channel with the addition of Barnes & Noble and Sephora to its online store.

Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management while empowering U21s to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by their parents.

New York -- Barnes & Noble said it has detected tampering with PIN pad devices that are used in 63 of its stores. Upon detecting evidence of tampering, which was limited to one compromised PIN pad in each of the affected stores, chain discontinued use of all PIN pads in its nearly 700 stores nationwide by the close of business on Sept.14.
 
In addition, the company notified federal law enforcement authorities, and has been supporting a federal government investigation into the matter.
 

New York -- Barnes & Noble announced that it will enter into a partnership with British retailer John Lewis to offer its Nook electronic readers in the United Kingdom.

John Lewis is the first Nook partner for Barnes & Noble outside the United States.

“John Lewis is where knowledgeable customers turn for trusted advice on the best products to purchase, and they are a perfect partner to help launch Nook in the U.K.,” said Jamie Iannone, president of digital products at Barnes & Noble.
 

New York -- Barnes & Noble reported Tuesday that it lost $41 million in the first quarter, compared with a loss of $56.6 million in the same period last year.

Results were bolstered by sales of e-books and other digital content, said CEO William Lynch.

Overall revenue rose 2% to $1.45 billion, and same-store sales climbed 4.6%. Sales in the retail segment also rose 2% -- to $1.1 billion.
 

New York -- Barnes & Noble CEO William Lynch was compensated $10 million in 2011, compared to $1.6 million in 2010, according to a report by the Associated Press.

The difference is due to a large stock option grant, reported AP, as Barnes & Noble compensated Lynch for expanding the retailer’s digital business. However, an SEC filing revealed the retailer planned to pay Lynch double the $5.3 million in stock options it granted, but found it couldn't due to its 2009 incentive plan rules.

New York -- Barnes & Noble announced the appointment of Thomas Donohue as VP treasurer, and Kanuj Malhotra as VP corporate development.

The company also said it has promoted Andy Milevoj to VP investor relations, all reporting directly to Mike Huseby, CFO.
 

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%.