Barnes & Noble: Loss for Quarter, but Nook Tablet Selling Brilliantly

Barnes and Noble Q2 financial results

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 β€œWe 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.

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