The Nook and e-commerce drive sales for Barnes & Noble
December 2, 2011 05:17 PM
Store sales and total sales were down for books retailer Barnes & Noble Inc. in the second quarter. But it was a different story for e-commerce.
For the second quarter of fiscal 2012 ended Oct. 29 Barnes & Noble, No. 41 in the Internet Top 500 Guide reported:
- E-commerce sales increased 16.4% to $206 million from $177 million in the second quarter of fiscal 2011. The increase in web revenue was attributed to growing sales of digital content and Nook, its electronic book reader Nook-related sales increased year over year about 85% to $220 million from $119 million, the retailer says.
- Total sales declined 0.5% to $1.89 billion from $1.90 billion.
- Comparable-store sales decreased 0.6%.
- Net loss was $6.6 million compared with $12.6 million in the prior year.
Internet Retailer calculates the web accounted for 10.9% of total sales compared with 9.3% in the second quarter of fiscal 2011.
“We expect to sell millions of devices during our third quarter, adding to the millions of current Nook customers,” says CEO William Lynch. “This growing base of customers buying digital content from Barnes & Noble will continue to position us as one of the fastest-growing companies in this exploding digital content market and we project this will generate significant returns on our investments for years to come.”
For the first two quarters:
- E-commerce sales increased 25.9% to $404 million from $321 million in the first half of fiscal 2011.
- Total sales increased 0.6% to $3.31 billion from $3.29 billion.
- Net loss was $63.1 million compared with $75 million in the prior year.
Internet Retailer calculates the web accounted for 12.2% of total sales compared with 9.8% in the same period of fiscal 2012.