updated 11:20 pm EDT, Mon June 28, 2010
Brick-and-mortar performance still poor
Barnes & Noble has released its quarterly financial report, indicating strong performance with digital distribution but a drop in sales from the company's many brick-and-mortar locations. CEO William Lynch highlighted the fledgling ebookstore, which has already achieved a larger market share in the digital realm than the company's share in the retail market.
The Nook reader has been credited with pushing quick growth for e-book sales on BarnesandNoble.com. Nook owners are said to have increased their combined digital and physical spending by 17 percent, while pushing total units ahead by 70 percent.
The company plans on expanding its investments in technology and market, as retail sales will likely remain flat in the current quarter. Digital sales are expected to be bolstered by the new entry-level Nook, which sells for $149, along with the 3G model that has been discounted to $199.