For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
Barnes & Noble says the 23% growth to $109 million came with little spending in marketing or promotional offers and demonstrates the viability of web retailing.
Online bookstore Barnes & Noble.com expects to report that first quarter sales increased 23% over the same period last year to $109 million. The company says the sales increase came without major marketing or promotion expenditures. Barnes & Noble.com says it used a minimum of such promotional offers as free shipping, and did no offline advertising during the first quarter. It will report final sales and earning data April 26.
"In an environment where the flattening of e-commerce sales is being widely reported, especially in the book industry, our sales continue to grow, which is a clear indication that e-commerce is an important component of the bookselling retail marketplace," said Steve Riggio, vice chairman of Barnes & Noble.com. “As the e-commerce market continues to consolidate, we believe Barnes & Noble.com is well positioned to grow sales and market share going forward."
The online bookselling business is consolidating with Amazon.com preparing to take over the Borders.com operation Aug. 1.