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Barnes & Noble reported their sales from the 2017 holiday quarter, and the news is not good.
B&N today reported holiday sales for the nine-week holiday period ending December 30, 2017. Total sales for the holiday period were $953 million, declining 6.4% as compared to the prior year. Comparable store sales also declined 6.4% for the holiday period, while online sales declined 4.5%.
Entering December, the Company was encouraged by the comparable store sales improvements throughout the second quarter and into November. However, sales trends softened in December, primarily due to lower traffic.
The Company's book business declined 4.5%, outperforming the overall comparable store sales performance. Declines in the gift, music and DVD categories accounted for nearly half of the comparable store sales decrease. The Company said it remains focused on executing its strategic turnaround plan, which includes an aggressive expense management program.
The keywords are "aggressive expense management program," which translates to "lowering" the cost of employees, and closing and downsizing stores.
Previously: Barnes & Noble Pivots to Books
(Score: 1) by anubi on Wednesday January 10 2018, @05:42AM
Add me to your list.
Anything with DRM in it is on that list. If I am lucky, it will work for several weeks before something times out, or it start insisting that I comply with some demand before it will work.
"Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]