Barnes & Nobles Inc. recorded losses growing in the fourth quarter, in line with its investment in e-book technology. The network's biggest bookstore in the U.S. is finallystarting to change the business model and implement an e-book sales online likeAmazon.com. Loss recorded in the fourth quarter in the books, which ended in May wasabout $ 32 million, or $ 58 cents per share. This figure is quite fantastic when compared with a loss in the same quarter last year of $ 2.7 million or $ 5 cents per share.
Losses totaled $ 89 cents per share, excluding the tax benefit of $ 25 cents andinventory gains of $ 7 cents per share. This is still above the previous estimate ofanalysts estimate the total loss $ 81 cents per share.
Revenue rose 19% to $ 1.32 billion of revenue last year of $ 1.1 billion. This is wellabove analysts' estimates that revenue estimate of $ 1.28 billion.
Competition in the field of e-book sales are growing louder. The entry of Apple with itsiPad, Skiff with its e-reader is super thin, even the Chinese manufacturers were alreadyproducing low-end e-reader which is capable of displaying kanji characters, create an e-reader market suddenly crowded.
As a seller of e-books and hardcopy books, B & N also at the same e-reader Nook sellsto its consumers. Nook compete head-to-head directly with the Kindle issued byAmazon.com. This competition is evident when B & N lowered its price Nook from $ 259 to $ 199 and introduced Nook Wi-Fi for $ 149, which was quickly followed byAmazon.com Kindle which lowers its price to $ 189.
Electronic business strategy is considered very important by B & N, it is stated in March last year where the head of the division Web B & N, William Lynch, was appointed asCEO, while the previous CEO, Steve Riggio was appointed as deputy director.
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