There have been rumors that Barnes & Noble could be moving away from the Nook hardware, and when you look at the newest quarterly report from B&N, it is easy to see why. But no worries Nook lovers.
The company reported $2.2 billion in revenue, which marked an 8.8% decrease year-on-year. Digital sales were up almost 7%, however overall retail sales were down. The end result is a net loss of $6.1 million. Revenue from the Nook was down 26% compared to Q4 of 2011. Surprisingly though, the company doesn’t want to abandon the Nook. They are standing by it.
“The bigger brands have more resonance in that multi-function tablet market than we do. We obviously have to adjust and change. So when I say we have a commitment, we do, but we also have a commitment to change the model and how we’re approaching it.”