Barnes & Noble has released its second quarter sales and earnings results, with the company posting a net loss of $6.6 million for the quarter.
Compared to a net loss of $12.6 million last year, the book retailer fell below Wall Street expectations, despite total sales only decreasing slightly from $1.9 billion to $1.89 billion. While physical book sales declined for Barnes & Noble in the second quarter, which ended Oct. 29, the company claims this was offset by an increase in NOOK products and positively affected by the liquidation of the remaining Borders stores.
Meanwhile, the company’s website, BN.com, experienced a 17 percent increase in sales from the year prior, from $177 million to $206 million.
Barnes & Noble took the time to boast about its NOOK Tablet, which has become the fastest selling NOOK product yet, according to the company. The book retailer went on further to say that the consolidated NOOK business, including digital content sales, device hardware and related accessories, increased 85 percent in 2Q11 to $200 million, on a comparable sales basis.
The company plans to invest more in customer acquisition activities to add to the NOOK’s digital growth, though Barnes & Noble’s expects full year EBITDA to be lower as a result.