Barnes & Noble reported $6.4 billion in consolidated revenues for fiscal 2014, a 6.7 percent decrease over 2013. The book retailer also revealed that fourth quarter consolidated revenues reached $1.3 billion, a 3.5 percent increase over the prior year.
“We’re pleased with our improved financial performance in fiscal 2014, generating EBITDA of $251 million, the highest it’s been in four years, while executing on our strategic initiatives during the year,” explained Michael P. Huseby, CEO of Barnes & Noble, in a statement. “Retail improved sales trends during the second half of the year, generating annual EBITDA of $354 million. College increased revenues from higher margin textbook rentals, continued to add new school contracts and developed and soft-launched Yuzu, our digital education platform, growing EBITDA to $115 million.”
The Nook business, which includes digital content, devices and accessories, had $87 million in revenues for the quarter and $506 million for the full year, down 22.3 percent for the quarter and down 35.2 percent for the year. The company revealed plans to sell off its Nook device inventory through a partnership with Samsung. The retailer will focus instead on Nook content.