Barnes and Noble announced a smaller loss this past year due in large part to the very popular “50 Shades of Grey” series. Yes, sex sells and it looks like it might even save the brick and mortar book store business for a little while longer. Oh, if only Borders could have held out for a little while longer….When does the next book in the series come out?
Barnes & Noble reported a smaller loss than anticipated for its fiscal first quarter, thanks to a revenue bump from the racy Fifty Shades series.
The bookseller said it saw rapid growth in content sales from its Nook e-reader segment and unexpected strength in its bookstores thanks to the strong sales of the trilogy by E.L. James.
Barnes & Noble reported a 7.6% rise in core comparable bookstore sales, which it attributed to the Shades of Gray series and the continuing benefit from the liquidation of rival Borders. Overall retail sales, consisting of stores and BN.com, were up 2% from a year ago to $1.1 billion.
“We continued to see improvement in both our rapidly growing NOOK business, which saw digital content sales increase 46% during the quarter, and at our bookstores, which continue to benefit from market consolidation and strong sales of the Fifty Shades series,” said Chief Executive William Lynch. (Forbes)