It was a good news/bad news scenario for Barnes & Noble stakeholders yesterday, as the company reported on sales and earnings for the second quarter of fiscal year 2011.
The bad news: total sales decreased by some $10 million from $1.9 billion to $1.89 billion year-on-year, while the company took a $6.6 million loss.
The good news: While its physical book sales are in decline, the Barnes & Noble Nook released in November is already the fastest-selling Nook product ever, and Nook products represented a huge $220 million in sales during Q2 2011, a whopping 85% increase year-on-year.
Nice sales figures on the Nook Tablet may yet help Barnes & Noble turn a profit in 2011, with CEO William Lynch stating that “We expect to sell millions of devices during our third quarter, adding to the millions of current NOOK customers.”
The Nook Tablet is a 7” device and so can be carried in any 8” tablet cases.