Barnes & Noble has this week warned that its expects its Nook business to post an increased full-year losses in fiscal 2013, after struggling with slow sales and rising costs.
Barnes & Noble explained yesterday that it expects an earnings before interest, taxes, depreciation and amortisation to exceed the $262 million loss recorded in fiscal 2012, with Nook revenue expected to be less than $3 billion.
Since its launch back in 2009 the Nook eReader has been a revenue-driver for Barnes & Noble, but the news of increased losses sent Barnes & Noble shares falling 4 percent to $13.60.
Source: Yahoo News : Verge
Filed Under: Technology News