'Fifty Shades' helps Barnes & Noble in 1Q
NEW YORK – Barnes & Noble's fiscal first quarter was a tale of modern and traditional. Tech-savvy consumers snapped up its e-books and other digital content during the period, while traditionalists headed to its bookstores for the popular "Fifty Shades of Grey" series.
The double dose of good news, coupled with cost-control efforts and lower expenses, helped the New York company's loss narrow while its revenue rose.
Barnes & Noble Inc., the largest traditional U.S. book retailer, faces tough competition from online retailers like Amazon.com and discount stores as consumers increasingly move away from traditional books in favor of reading on devices such as e-readers and tablets. These factors have pushed the chain to invest heavily in its Nook e-reader and e-books, with digital content playing a key role in its success during the current quarter.
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