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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: 2) by Freeman on Tuesday January 09 2018, @05:27PM (1 child)
There is something kind of elegant to a record player. Maybe, it's pure nostalgia, but there's probably quite a bit of that to go around for some time.
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"
(Score: 1) by anubi on Friday January 12 2018, @04:25AM
The vinyl LP was the last of true physical "plays for sure" media, but even then, sometimes it skips!
If you took it to a friend's house, it would also play on his player, no matter who made it.
No, we did not give that up. We have .MP3 format if we still want "plays for sure".
Not .MP3? Ummm, if I can't put the content in a .MP3 format, I really don't want it all that bad. There is just too big a chance for me of getting another pain in the ass to deal with.
"Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]