Barnes & Noble Nook Sales Doubled Over Thanksgiving Weekend
Barnes & Noble has announced their fiscal second quarter financial results. In the results B&N revealed that they have sold double the amount of Nook Android tablets over the four day Black Friday/Thanksgiving weekend across all channels when compared to the similar period last year. This does not include the new Nook HD and HD+ tablets since these tablets shipped outside of the second fiscal quarter.
“Growth was driven by increased promotional activity at channel partners, particularly Walmart and Target. Retail Core comparable sales, which exclude sales of NOOK products, slightly declined over the holiday weekend, in-line with company expectations,” stated Barnes & Noble.
Barnes & Noble had cut the price of the Nook Simple Touch from $99 to $59 and offered reduced gift cards to help drive holiday sales.
Barnes & Noble hit consolidated revenues of $1.9 billion, which is a decrease of 0.4% year-on-year. The consolidated net earnings were $2 million when compared to a loss of $7 million a year previously.
The Nook’s revenues had totaled $160 million for the quarter, which is up 6%. The sales of e-books, digital newsstand subscriptions, and apps had increased 38% year-on-year. Sales of the Nook HD and HD+ will be placed in the third fiscal quarter.
[TNW]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry