Barnes & Noble 1st quarter loss narrows
Source: The Oklahoman - Aug 30, 2011 at 9:18 AM
NEW YORK (AP) — Barnes & Noble says its net loss narrowed in its fiscal first quarter as sales of its Nook e-book reader and e-books helped offset lower physical book sales.
Traditional booksellers are facing tough competition and Barnes & Noble has invested in its e-book reader to combat this.
The largest U.S. traditional book retailer says its net loss totaled $56.6 million, or 99 cents per share.
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