Barnes & Noble revealed a that consolidated revenues for the fourth quarter decreased 7.4 percent to $1.3 billion as compared to the same period last year. The company also saw steep 16.8 percent drop in Nook revenues.
The bookseller’s “consolidated fourth quarter net loss” amounted to $118.6 million, compared to $56.9 million during the same period last year. Here’s more about the company’s retail performance in the fourth quarter:
The Retail segment, which consists of the Barnes & Noble bookstores and BN.com businesses, had revenues of $948 million for the quarter and $4.6 billion for the full year, decreasing 10.0% for the quarter and 5.9% for the fiscal year. The sales decreases were attributable to comparable store sales decreases of 8.8% for the quarter and 3.4% for the full year, store closures and lower online sales. Fourth quarter comparable bookstore sales decreased as a result of lower NOOK unit volume and a stronger title lineup in the prior year period including The Hunger Games and Fifty Shades of Grey trilogies. Core comparable bookstore sales, which exclude sales of NOOK products, decreased 5.8% for the quarter and were essentially flat for the full year.