Memphis Daily News Chandler Reports Nashville Ledger
» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 42 | NO. 1 | Friday, January 5, 2018

A sad holiday tale from Barnes & Noble

Print | Front Page | Email this story

NEW YORK (AP) — Shares of Barnes & Noble are tumbling to all-time lows after airing some ugly holiday sales numbers.

The beleaguered bookseller said late Thursday that comparable-store sales slid 6.4 percent during the crucial nine-week period ending Dec. 30.

Most retailers have strengthened digital operations and their sales have followed. At Barnes & Noble, however, online sales dropped 4.5 percent.

Amazon.com is winning over more people each year to its Prime membership program, at one point handing out trial memberships to 4 million people in one week this holiday. That's proven devastating for Barnes & Noble, where overall holiday sales fell 6.4 percent, to $953 million. The Seattle-based Amazon has also opened 12 physical bookstores so far.

Consulting firm Bain & Co. says that Amazon should account for half of holiday 2017 holiday sales growth.

Barnes & Noble says trends of improving sales leading into November began to fade by December.

Shares of Barnes & Noble Inc. fell more than 14 percent, to $5.57 in afternoon trading.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0