Barnes & Noble.com Trims Q3 Losses, Boosts Sales
Though sales to corporate customers declined, barnesandnoble.com Inc. said last week that third-quarter sales of books, music and videos/DVDs to consumers rose 13.1 percent to $102.6 million.The New York online retailer said the Q3 net loss was $17.5 million, an improvement from the $38.3 million loss in that quarter last year.
Gross margins were 24 percent, up from 21.9 percent last year, as the company decreased reliance on wholesalers and made better use of shipping providers.
The company hopes to break even next year.
Both Barnes & Noble Inc. and German media giant Bertelsmann AG are buying barnesandnoble.com stock on the open market, almost doubling the share price to a little over a dollar. The Nasdaq a few months ago warned barnesandnoble.com it would be delisted if the share price were not maintained over $1.
