B&N Loses $6.1 Million, Nook Sales Drop Sharply

Revenues from the Nook segment were down 26 percent compared to last year

A few days ago, we reported that B&N might be thinking of totally scrapping the Nook hardware division, and now we know why.

The murmurs about a private acquisition were part of it, but not the core reason.

In the end, the cause behind the rumors is much more straightforward: big financial losses.

B&N finished the third quarter of its fiscal year 2013 with a revenue decline of 8.8% on year ($2.2 billion / 1.7 billion Euro). Nook revenue fell by a whole lot more though: 26%.

Coupled with overall decline in sales, even the 6.8% increase in digital content sales didn't offset the disaster much.

All in all, the net loss was of $6.1 million / 4.64 million Euro, a steep plunge from the $52 million / 40 million Euro profit of the same period during the previous year.

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