In its second-largest acquisition, Amazon buys the company for $970 million.
The web, driven by Nook, now accounts for 12.3% of total revenue.
Barnes & Noble Inc. ended fiscal 2011 with just about $7 billion in total revenue. But the growth didn’t come from stores.
Instead, Barnes & Noble, No. 41 in the Internet Retailer Top 500 Guide, credits strong sales at BN.com, especially of Nook electronic book readers and digital content from the Nook online book store, as the main reasons total revenue grew sharply last year.
For the 2011 fiscal year ended April 30, Barnes & Noble reported:
- E-commerce sales, which include the sales of Nook electronic book readers sold online and digital content, increased 49.8% to $858.1 million from $572.7 million in fiscal 2010. Barnes & Noble didn’t break out specific sales for Nook and its related digital content.
- Total sales grew year over year 20.5% to $6.99 billion from $5.80 billion.
- Retail sales declined 0.9% to $4.36 billion from $4.40 billion in fiscal 2010.
- Comparable-store sales increased 0.7%.
- College book store sales increased 112.3% to $1.77 billion from $833.6 million.
- Net loss was $74 million, compared with net income of $36.6 million in fiscal 2010.
Internet Retailer calculates the web accounted for 12.3% of total sales compared with 9.9% in fiscal 2010.
For the fourth quarter:
- E-commerce sales increased year over year 54.4% to $217.3 million from $140.7 million.
- Total sales grew 4.6% to $1.37 billion from $1.31 billion in Q4 of fiscal 2010.
- Retail sales declined 3.2% to $942.7 million from $973.5 million in Q4 of fiscal 2010.
- Comparable-store decreased sales 2.9%.
- College book store sales increased 3.5% to $211.2 million from $204.1 million in Q4 of fiscal 2010.
- Net loss was $59 million, compared with a net loss of $32 million in Q4 fiscal 2010.
Internet Retailer calculates the web accounted for 15.9% of total sales compared with 10.7% in Q4 of fiscal 2010.
Barnes & Noble also continues to ponder an acquisition offer from Liberty Media Corp., which owns QVC, No. 8 in the Internet Retailer Top 500 Guide. “Liberty’s proposal is under review by the special committee of the company’s board of directors, which is charged with reviewing strategic alternatives,” Barnes & Noble says.