Friday, June 23, 2017

B&N Reports Falling Sales in Fiscal 2017 Report - Publishers Weekly

Panzer's trip into the Catosphere today took him to the Publishers Weekly site. There our busy kitty traveler discovered news about Barnes and Noble's 2017 Fiscal Year Report. (Panzer knows it might seem strange for a company to have their end of 2017 year report be announced in June. It just means the company was not started on January 1 but instead part way through the year. Therefore, the company's "year" doesn't start and stop on January 1. This little kitty knows it's confusing, but it's what he expects from humans.)

My ebooks are there online.
According to the post by Jim Milliot, Barnes and Noble announced their fiscal report for 2017 and the numbers are disappointing. Although according to the report online sales were up 3.7 percent, that wasn't enough to offset the 6 percent decline in retail sales or the 23.4 percent decline in Nook sales. Even though the sales figures do appear to show an abysmal sales record and losses, it does show they are not as bad as the 2016 losses.

Panzer says, "Hmm ... Can the new CEO Demos Parneros turn the company around to profitability in the next couple of years? This little kitty hopes so."

Note: This is a longish-short post. Bring a cup of tea and a muffing for today's reading selection.

To read the post, tootle over to Barnes and Noble

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