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Old 08-20-2013, 10:17 AM   #1
Alexander Turcic
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B&N reports $87m loss for Q1 2014, NOOK business plunges 20%

Tuesday morning Barnes and Noble reported earnings for fiscal Q1 2014, and while a majority of analysts expected a loss, it was larger than expected. Net loss for the three months ended July 27 totaled $87 million, compared to a loss of $39.8 million in the prior year.

The NOOK business (which includes NOOK devices, accessories and digital content) didn't do too well either. Total revenues fell to $153 million (that's 20 percent less than last year). Revenue in device and accessories sales decreased by 23 percent, while revenue in digital content sales declined by almost 16 percent. B&N was able to make up some of the losses by reducing expenses.

On the positive side, the company noted that it intends to continue its NOOK business and that it plans to launch a new NOOK device this fall.

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“Our top priority in our operating strategy is to increase all categories of our content revenue. We are working on innovative ways to sell content to our existing customers and are exploring new markets we can serve successfully,” said Michael P. Huseby, President of Barnes & Noble, Inc. and Chief Executive Officer of NOOK Media. “The company intends to continue to design and develop cutting-edge NOOK black and white and color devices. We will continue to offer our award-winning line of NOOK products including NOOK Simple Touch®, NOOK Simple Touch® with Glow Light®,NOOK® HD and NOOK® HD+ at the best values in the marketplace. At least one new NOOK device will be released for the coming holiday season and further products are in development. All NOOK devices will continue to be backed by world-class pre- and post-sales support in Barnes & Noble stores, as well as ongoing software upgrades and improvements to the digital bookstore service.”

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Old 08-20-2013, 11:32 AM   #2
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I think they had to say that they would continue the Nook line or else things would really tank. I just cannot see them continuing the line as is.
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Old 08-20-2013, 11:40 AM   #3
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Excellent, B&N has found a way to predict the future!
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Old 08-20-2013, 01:27 PM   #4
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I recently bought a Nook HD so my guests wouldn't "borrow" my iPad. I have to admit, I really like it. Not as much as my iPad, but I think it's a good alternative. I hope they continue the line, but make the prices reasonable.
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Old 08-20-2013, 02:54 PM   #5
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They won't continue the tablets, they have already announced that. Its only the ereaders they will continue with. If another Nook Tablet is produced it will be an android tablet made by someone else with only the name Nook.
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Old 08-20-2013, 03:06 PM   #6
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They won't continue the tablets, they have already announced that. Its only the ereaders they will continue with. If another Nook Tablet is produced it will be an android tablet made by someone else with only the name Nook.
The new CEO backpeddled from that. Said the salary/costs of the in-house engineering wasn't the problem, but that it was a management problem.

I'd hazard a guess what that really means is that middle management vastly over-estimated how many units they would sell at the original prices.

http://arstechnica.com/business/2013...ets-after-all/

Quote:
“The company intends to continue to design and develop cutting-edge Nook black and white and color devices," Huseby said. "We will continue to offer our award-winning line of Nook products, including Nook Simple Touch, Nook Simple Touch with Glow Light, Nook HD, and Nook HD+ at the best values in the marketplace. At least one new Nook device will be released for the coming holiday season and further products are in development. All Nook devices will continue to be backed by world-class pre- and post-sales support in Barnes & Noble stores, as well as ongoing software upgrades and improvements to the digital bookstore service.”
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Old 08-20-2013, 05:24 PM   #7
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I noticed a new review on my free book today. The reviewer said he wished there was another book in the series. There is another book, it's $2.99 so B&N would make money on that one. Is there a direct link on the free book page to the pay book page? Nope. These guys couldn't sell space heaters in Alaska.
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Old 08-20-2013, 05:35 PM   #8
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They say that there will be "at least one" new Nook device this fall and that it'll be a color device of some sort. That suggests to me another tablet, which seems kind of strange given that their existing tablets are now being sold at a steep discount, unless they are going with Mirasol or color e-ink. They also say that they will continue to develop both tablets and e-ink readers in-house. (http://gigaom.com/2013/08/20/barnes-...investor-call/) Also, they will "move to a business of lower priced [devices] at higher volume." This is because they believe they must own the devices to sell content.

So Riggio has put on hold his bid for the B&N stores... And they believe the stores will have high single digit declines in revenues next year.
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Old 08-20-2013, 06:59 PM   #9
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Again, people have discovered free ebooks. They also have many lower-priced options. A search pulls up 800,000 titles $5.00 or less.
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Old 08-21-2013, 03:08 AM   #10
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How can BN make any money in their brick and mortar stores when theres nothing but freeloaders walking through their doors. Most people go there for free wifi and to sit in the corner and read their books and magazines for free. Starbucks is the only ones making any money and they are not affiliated with BN other than paying rent.
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Old 08-21-2013, 09:39 AM   #11
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How can BN make any money in their brick and mortar stores when theres nothing but freeloaders walking through their doors. Most people go there for free wifi and to sit in the corner and read their books and magazines for free. Starbucks is the only ones making any money and they are not affiliated with BN other than paying rent.
Oh, I don't know. Maybe it depends on the B&N. I go to one about once a week and usually stay about an hour. Sure, there are people in the cafe using wifi or sitting around reading, but there are usually a good number of people browsing. Of course some of the browsers are just browsing or intend to buy titles they see and like online, but people do buy stuff. Not necessarily books, but they do buy. There is usually a line to make purchases and it isn't necessarily because there aren't enough clerks behind the counter.
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Old 08-21-2013, 04:08 PM   #12
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The new CEO backpeddled from that. Said the salary/costs of the in-house engineering wasn't the problem, but that it was a management problem.

I'd hazard a guess what that really means is that middle management vastly over-estimated how many units they would sell at the original prices.

http://arstechnica.com/business/2013...ets-after-all/
how can they lose 87 million.astomishing .

if i was in charge i would fire all the over paid managers and hangers on and focus on sales.

sales make money.

managers are parasites who suck up money and waste time in endless meetings.

we at work have to put up with endless pointless meetings filled with waffle,gaffle,waffle.

they suck the life out of you.



i would remove all loss making operations and put in sexy smart sales girls plus have outrageous media events with strippers and lap dancers.

sales would rocket and 287 million IN PROFIT.

Last edited by vugtitan; 08-21-2013 at 04:10 PM.
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Old 08-21-2013, 04:33 PM   #13
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Excellent, B&N has found a way to predict the future!
I didn't even think they'd still be in business next year so it's not all bad news is it?
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Old 08-21-2013, 07:35 PM   #14
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i would remove all loss making operations
I'm not sure they could survive with just ten stores.
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