Barnes & Noble reported another poor quarter to end fiscal 2013: Sales of $1.28 billion were down 7.4 percent from $1.38 billion a year ago, and the net loss doubled to $118.6 million, or $2.11 per share. Both results were far worse than analysts had forecast (as we covered yesterday). Results “were adversely impacted by Nook inventory charges”–they took $133 million in inventory charges in the fourth quarter on device markdowns and a goodwill impairment charge of $18.3 million in Nook selling and administrative expenses “as recurring losses have led to revisions in its strategic plans.” Even with the discounting, the […]
