Feb 28 2013
Barnes & Noble's third quarter revenues (ending January 26) fell 8.8%, to $2.2 billion, and the net loss was $6.1 million, compared to net earnings of $52 million a year ago. Sales of $2.2 billion were below analysts' estimates of $2.4 million, Reuters reported. As a result, in trading before markets opened, B&N stock was down 2.6%.
The company said that results were "adversely impacted" by the Nook, including $59 million in additional inventory charges because of unsold goods, $21 million in returns from partner retailers, $15 million in promotional allowances "to optimize future sales opportunities" and higher advertising charges.
The Funeral Cryer by Wenyan Lu
Debut novelist Wenyan Lu brings us this witty yet profound story about one woman's midlife reawakening in contemporary rural China.
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