Barnes & Noble's (BKS) Nook Drives Strong Holiday Sales
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Barnes & Noble, Inc. (NYSE: BKS) announced Thursday that its sales for the nine-week holiday period ended in January 1, 2011 significantly exceed forecasts due to sales of its popular Nook e-reader.
During the period the company's sales increased 8.2 percent to $1.1 billion compared to last year, while same store sales increased 9.7 percent.
December sales for the company rose 12.8 percent.
“NOOKcolor was one of the most sought-after gifts this holiday season and has quickly become the bestselling device at Barnes & Noble," William Lynch, CEO, Barnes & Noble, Inc., stated. "And, even more encouraging to us, NOOK’s popularity is helping to drive new sales at both our stores and online, where 60% of NOOKcolor owners are new customers of our Barnes & Noble digital bookstore.”
During the period the company's sales increased 8.2 percent to $1.1 billion compared to last year, while same store sales increased 9.7 percent.
December sales for the company rose 12.8 percent.
“NOOKcolor was one of the most sought-after gifts this holiday season and has quickly become the bestselling device at Barnes & Noble," William Lynch, CEO, Barnes & Noble, Inc., stated. "And, even more encouraging to us, NOOK’s popularity is helping to drive new sales at both our stores and online, where 60% of NOOKcolor owners are new customers of our Barnes & Noble digital bookstore.”
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