Barnes & Noble (BKS) CEO Lynch Sees Strong Holiday Sales for NOOK Line
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Barnes & Noble (NYSE: BKS) shares are trading higher, possibly due in part to sentiment behind NOOK sales potential heading into the holiday shopping season.
Today, CEO William Lynch sat down for an interview with Bloomberg. Lynch noted that B&N's retail business in first-quarter had the highest growth in five quarters at 4.5 percent, EBITDA was up 88 percent. He also notes that Barnes & Noble has been gaining share as other bookstores have closed. he says Barnes & Noble locations are the only place in the U.S. to get a broad selection and assortment of books. He feels good about retail.
Lynch reiterated that the NOOK HD and NOOK HD+ had the highest preorder volume that Barnes & Noble has seen since launch of the tablet. He says Barnes & Noble is going to have a big holiday with NOOK.
Shares of Barnes & Noble are up over 4.5 percent on the session Tuesday.
Today, CEO William Lynch sat down for an interview with Bloomberg. Lynch noted that B&N's retail business in first-quarter had the highest growth in five quarters at 4.5 percent, EBITDA was up 88 percent. He also notes that Barnes & Noble has been gaining share as other bookstores have closed. he says Barnes & Noble locations are the only place in the U.S. to get a broad selection and assortment of books. He feels good about retail.
Lynch reiterated that the NOOK HD and NOOK HD+ had the highest preorder volume that Barnes & Noble has seen since launch of the tablet. He says Barnes & Noble is going to have a big holiday with NOOK.
Shares of Barnes & Noble are up over 4.5 percent on the session Tuesday.
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