In its second-largest acquisition, Amazon buys the company for $970 million.
E-commerce sales grew 2.2% for Barnes & Noble Inc. in Q2. Total revenue and comparable-store sales declined by 5.7% and 6.9%, respectively.
E-commerce sales grew modestly for Barnes & Noble Inc. in the second quarter.
In the quarter ended Aug.1, Barnes & Noble, No. 41 in the Internet Retailer Top 500 Guide, reported:
- Q2 web sales of $102 million, an increase of 2.2% from $99.8 million in the second quarter of 2008.
- Total sales decreased year over year 5.7% to $1.15 billion from $1.22 billion.
- Comparable-store sales declined 6.9%.
- The web accounted for 8.9% of total sales compared with 8.2% in the prior year.
- Net income declined year over year 20.1% to $12.3 million from $15.4 million.
For the first six months of the year:
- E-commerce revenue decreased 2.2% to $195 million from $199.4 million.
- Total revenue declined year over year 4.6% to $2.26 billion from $2.37 billion.
- Net income declined 28% to $9.5 million from $13.2 million.