'Fifty Shades of Grey' boosts Barnes & Noble profits in first quarter

10:54 AM, Aug 21, 2012   |    comments
AP File
  • Share
  • Print
  • - A A A +

NEW YORK (AP) - Barnes & Noble says its fiscal first-quarter loss narrowed, lifted by sales of e-books and other digital content as well as sales of the "Fifty Shades of Grey" series at its bookstores.

The largest traditional U.S. book retailer faces tough competition from online retailers and discount stores and has invested heavily in its Nook e-reader and e-books.

Barnes & Noble Inc. lost $41 million, or 78 cents per share. A year earlier it lost $56.6 million, or 99 cents per share.

Revenue climbed 2 percent to $1.45 billion from $1.42 billion.

Digital content sales rose 46 percent, while revenue from bookstores open at least a year increased 4.6 percent. The company also said Tuesday that Borders' liquidation helped its performance.

Its stock gained more than 5 percent in premarket trading.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Associated Press

Most Watched Videos