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Summary Box: Barnes & Noble reports 3Q loss

Published on NewsOK Modified: February 28, 2013 at 1:28 pm •  Published: February 28, 2013
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THE NEWS: Bookseller Barnes & Noble said Thursday it lost 18 cents per share in the three months ended Jan. 26 as demand for its e-books and Nook e-book reader plummeted and holiday sales were weak. Revenue fell 9 percent to $2.22 billion.

THE BACKGROUND: Barnes & Noble has invested heavily in its Nook e-book readers and a digital library as more readers shift to electronic books and competition from discount stores and online rivals grows. But demand for e-books appears to be slowing, the company said.

WHAT'S NEXT: Company CEO William Lynch said the company plans to retool the Nook division.