Barnes & Noble income down amid higher costs; same-store sales up
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New York City -- Barnes & Noble reported that its net income for the 13 weeks ended Jan. 28 fell 14% to $52 million, compared with $60.6 million as rising costs offset higher sales for both physical and digital books. The company also said it will introduce a cheaper Nook Tablet, with eight gigabytes of memory for $199. (Its current device sells for $249.) Revenue rose 5% to $2.44 billion. Revenue from Nook e-readers and its digital catalog rose 38% to $542 million. The company estimates it now has a 27% to 30% share of the U.S. e-book market.
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- People:
- Barnes
- William Lynch
- Places:
- New York City
- U.S.
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