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Jun 30 2010
Barnes and Noble's stock fell sharply yesterday, down over 19% - the largest one-day drop in the bookseller's shares since November 2001, and it's lowest stock price since 2008. The sell off followed Barnes & Noble's decision to invest in digital ventures at the expense of current year earnings.
BN also said they plan to close 6 - 10 stores a year during the next three years.
Meanwhile, in the UK, Waterstone's profits slumped 70% after a 'disappointing' year.
Asking a working writer what he thinks about critics...
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