Barnes and Noble released their 4th quarter and full year results on the same day and they proclaimed that NOOK turned its first ever full-year profit, generating $3.5 million dollars. In the 4th quarter Nook had an operating loss of $1.5 million, compared to an operating loss of $7.9 million during the previous-year period. Although the company did not provide any long term guidance on the NOOK segment, they will continue topline pressures in their NOOK business and continue to cut costs wherever they can.
Total sales at Barnes & Noble fell 6.0% in the fiscal year ended April 28, 2018, compared to fiscal 2017, and the retailer posted a net loss of $125.5 million last year, compared to net income of $22.0 million in fiscal 2017. Total Revenue last year was $3.66 billion, down from $3.89 billion in fiscal 2017. Online sales declined 9.6% for the full year on lower conversion rates.
Michael Kozlowski has been writing about audiobooks and e-readers for the past twelve years. His articles have been picked up by major and local news sources and websites such as the CBC, CNET, Engadget, Huffington Post and the New York Times. He Lives in Vancouver, British Columbia, Canada.