Things aren’t doing as well as Barnes & Noble had hoped for the Holidays. Barnes & Noble just announced that their sales results for the Holiday had declined. CEO William Lynch said in a statement, “We entered the holiday with two great new products, NOOK HD and NOOK HD+, both highly rated media tablets of phenomenal quality,” said William Lynch, Chief Executive Officer of Barnes & Noble, Inc. “NOOK device sales got off to a good start over the Black Friday period, but then fell short of expectations for the balance of holiday. We are examining the root cause of the December shortfall in sales, and will adjust our strategies accordingly going forward.”
It was this past fall that Barnes & Noble released the Nook HD and the Nook HD + in hopes of competing against Amazon’s Kindle Fire products.
Barnes & Noble’s Nook device and e-book business were $311 million for the remaining 9 weeks of 2012. Making sales go down 12.6 percent from the same period a year earlier. B&N also had a 10.9 percent decrease for web retail division and regular stores.
Although Nook took a hit, digital content sales increased 13.1 percent. Barnes & Noble says it now expects the Nook business to post revenues of $3 billion in 2013.