In the first fiscal quarter, B&N reported that company revenues decreased 7.0%, to $1.2 billion, as compared to the prior year. The consolidated first quarter net loss was $28.4 million, or $0.56 per share, compared to a net loss of $87.0 million, or a loss of $1.56 per share, in the prior year.
B&N's retail division had revenues of $955 million for the quarter, down 5.3% from the prior year. B&N attributed the decline to "a comparable store sales decline of 5.1% for the quarter, store closures and lower online sales", and blamed it on a decrease in sale of Nook products.
Revenues from B&N College were $226.1 million, which was only a minimal change from last year. The flat growth was probably due to additional stores being opened; comparable store sales decreased 2.0% for the quarter.
All in all, B&N's retail efforts aren't doing terrible, but then there is the news for the Nook division. B&N reported that Nook revenues dropped by over 50% compared to the same quarter last year.
The Nook segment (including digital content, devices, and accessories) had revenues of $70 million for the quarter, down from $155 million a year ago. Hardware sales accounted for $18 million for the quarter, a decrease of almost 80% from a year ago. Digital content sales also continued their decline, totaling $52 million for the quarter - a drop of 24.2% compared to a year ago.
But in spite of the bad news, there is some light n the horizon. B&N recently launched a new Galaxy Tab 4 Nook device in partnership with Samsung. This should boost sales in the coming quarters.