- NEW YORK: Barnes & Noble Inc.
- says its fiscal second-quarter loss narrowed, but its results missed expectations as the company continued to invest in its Nook electronic reader and electronic bookstore.
The largest US traditional book seller says its loss narrowed to $12.6 million, or 22 cents per share. That compares with $24 million, or 43 cents per share, last year. Analysts expected a smaller loss of 8 cents per share.
Revenue jumped 64 percent to nearly $1.91 billion.
Analysts expected $1.98 billion. Revenue rose just 1 percent excluding the company’s acquisition of its college booksellers unit.
Revenue in stores open at least a year fell 3.3 percent.
Barnes & Noble is hoping its growing e-book business will help offset tough competition from online retailers and discount chains.