It's already another fascinating year for Barnes & Noble, which surprised Wall Street with a number of post-holiday announcements. The success of their Nook Tablet, "which has exceeded expectations," came at some cost to their less expensive eInk device, "with a shortfall in the expected sales of NOOK Simple Touch." They say "the company over-anticipated the growth in consumer demand for single purpose black-and-white reading devices this holiday." Primarily as a result of that Simple Touch shortfall, BN reduced their guidance to investors, projecting fiscal year sales of between $7.0 billion and $7.2 billion, EBITDA of $150 to $180 million, and a loss per share of between $1.40 to $1.10 a share.
I personally find this depressing, as it means that people want gadgets with distracting apps, which in my candid opinion is no way to read a book. Most serious readers I know don't even want to be interrupted by an oldfashioned phone.
The good news is that B&N holiday print book sales rose by 4%. Overall, however, it doesn't look good for traditional publishing on paper. Print sales tracked by Nielsen Bookscan declined over 9% in 2011.
The good news is that B&N holiday print book sales rose by 4%. Overall, however, it doesn't look good for traditional publishing on paper. Print sales tracked by Nielsen Bookscan declined over 9% in 2011.
Trade paperback sales declined 6 percent. Hardcover sales were 7 percent lower. Mass market sales declined the most, down 24 percent.
Adult nonfiction declined only 3%, while adult fiction dropped 18%, reflecting the continuing growth of ebooks. Juvenile books declined 5% overall.
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