Retail Lower as Barnes & Noble's (BKS) Back Hits the Wall
Tweet
Share
E-mail
SPDR S&P Retail (NYSE: XRT) is trading lower by 1 percent intraday on Friday. Shares of Wal-mart (NYSE: WMT) are holding even and shares of Family Dollar (NYSE: FDO) are on the rise, gaining 1.6 percent. However, despite solid performance by the discount retailers, other retailers are facing significant headwinds, including Barnes & Noble, Inc. (NYSE: BKS).
The decline in shares of Barnes & Noble comes as its Nook e-reader, a top revenue driver for the company, is expected to face increasing competition from Google, who recently announced a tablet computer (the Nexus 7) with a price point that puts it in competition against both the Nook and Amazon's (Nasdaq: AMZN) Kindle. With Google now entering the market, the Nook could become a bit of a third wheel by comparison - that is, if the tires don't completely fall off.
The decline in shares of Barnes & Noble comes as its Nook e-reader, a top revenue driver for the company, is expected to face increasing competition from Google, who recently announced a tablet computer (the Nexus 7) with a price point that puts it in competition against both the Nook and Amazon's (Nasdaq: AMZN) Kindle. With Google now entering the market, the Nook could become a bit of a third wheel by comparison - that is, if the tires don't completely fall off.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Lowe's (LOW) PT Lowered to $275 at Guggenheim
- Wolfe Research sees strong S&P 500 earnings momentum
- Walmart (WMT) PT Lowered to $130 at Guggenheim
Create E-mail Alert Related Categories
ETFsRelated Entities
Standard & Poor's, KindleSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
