Posted by Sheila Shayon on July 9, 2013 04:49 PM
William Lynch Jr., CEO of Barnes & Noble, resigned Monday after a demoralizing earnings report that underscored the brand’s losing Nook battle against rivals in the e-reader market, with Amazon’s Kindle Fire and Apple’s iPad topping the list.
In its latest earnings report, the company reported a $118.6 million loss for its fiscal fourth quarter, with revenue from e-books dropping 9 percent. The report was the final nail in the coffin for the flaundering Nook brand, which, despite positive reviews and quality products, has ended up on the losing side of the ongoing e-reader and tablet wars. In late June, the company announced that it would no longer manufacture its Nook HD color tablets in-house, instead signing off the product to third party production. It will, however, continue to manufacture and market its black and white Nook e-readers.
The abrupt departure of Lynch, who assumed the CEO role in 2010 after being president of BarnesandNoble.com, could be the latest indicator that the company is abandoning its digital efforts and preparing to sell off individual units. Continue reading...
Posted by Dale Buss on July 9, 2013 09:16 AM
Barnes & Noble CEO resigns amid digital setbacks.
BlackBerry faces leadership questions at annual meeting today.
Shell picks refining chief to become its new CEO.
Alibaba sets sights on mobile.
Apple's App Store celebrates five-year anniversary with free apps.
Esurance expands US Open tennis sponsorship.
Ford finds that F-250 pickup is new favorite of auto thieves.
Hasbro buys 70 percent stake in mobile gaming company Backflip for $112 million.
Hostess Twinkies return aiming for more ubiquity.
Hulu attracts at least three takeover bids.
Infiniti nudges launch date of new Q50 sedan.Continue reading...
Posted by Barry Silverstein on June 26, 2013 02:48 PM
We may be witnessing a classic story of a me-too brand that just couldn't rise to the occasion. In a marketplace currently glutted with tablets, bookseller Barnes & Noble raised the "white flag, signaling that it cannot compete" with the likes of Amazon, Apple, and Samsung, reports The New York Times.
Barnes & Noble CEO William J. Lynch, Jr. saw it a bit differently, telling analysts, "Our aim is to sell great tablets connected to our best content catalog and high-quality bookstore services we've done, but do so without the sizable upfront risk." He added that "we are 100 percent not exiting the device business," but note the use of the word "device."
The fact is, B&N will no longer make its own Nook Color tablets, relying instead on other companies to license and manufacture them. The company does plan to continue to make its black-and-white eReader—but that's largely being regarded as a defensive move. B&N will continue to sell Nook Color devices through the end of 2013 but then partners will begin producing them.Continue reading...
Posted by Dale Buss on June 26, 2013 09:17 AM
Carnival CEO to step down.
Barnes & Noble pulls back after losses in tablet wars.
Square takes on PayPal online.
Daimler outsources development of driver-assistance software.
Paula Deen's awkward TODAY interview furthers PR nightmare.
Dow Jones plans to eliminate some newsroom staff as it unifies newswires and Wall Street Journal.
Fiat adds seven-seat minivan to 500 range in Europe.
Ford ushers great-great grandchildren of founder into management.
Google gets boost in EU privacy case.
Heineken says it is "absolutely on top" of issue of fake beer in emerging markets.Continue reading...
Posted by Sheila Shayon on May 10, 2013 12:45 PM
Shares of Barnes & Noble soared 24 percent after it was reported Thursday that Microsoft is considering a bid for the retailer’s Nook e-book business.
Microsoft is reportedly offering $1 billion for the Nook brand and the digital assets of Nook Media on top of their $300 million investment last year to develop Nook content for Windows 8 tablets. "Our complementary assets will accelerate e-reading innovation across a broad range of Windows devices, enabling people to not just read stories, but to be part of them,” said Microsoft president Andy Lees at the time. "We're on the cusp of a revolution in reading."
But the revolution stalled as the Android-based Nook has been a money-loser for B&N, not helping America's biggest bookseller compete against Amazon’s Kindle e-book reader.Continue reading...
Posted by Dale Buss on May 3, 2013 09:15 AM
Apple dodges $9 billion in US taxes with bond deal.
Google named Advertiser of the Year.
Volkswagen makes $10 million donation to the National Mall.
Adidas sales drop on weakening Reebok brand.
Barnes & Noble begins support of Google apps on Nook.
Beam sales rise because of "formula run" on Maker's Mark.
Diet Coke slims down its vending machines.
Ford adds jobs and raises capacity to make pick-up trucks.
Geritol seeks new life with younger consumers.
Huffington Post brings rapid-response "native" ads to its home page.Continue reading...
Posted by Dale Buss on April 11, 2013 09:16 AM
Deutsche Telekom raises bid for MetroPCS.
The Masters begins at Augusta National today with Tiger Woods again among the favorites.
Toyota and other Japanese automakers recall 3.4 million vehicles over Takata airbag.
Applebee's led first-quarter social media engagement by restaurants.
Barnes & Noble rebrands self-publishing platform PubIt! as Nook Press as it continues to invest in future of Nook brand.
Justin Bieber backs a debit card for teens, from parents.
ConocoPhillips suspends Arctic drilling plan.
Daimler says worsening Europe puts its 2013 profit outlook in doubt.
Dell plans to double sales outlets in China.Continue reading...
Posted by Dale Buss on March 1, 2013 09:04 AM
Groupon sacks founder Andrew Mason as CEO.
Gap reports strong sales on increased marketing spending.
Barnes & Noble falls behind in tablet wars.
Ahold plans to roll out more pickup points for Peapod.
Annie's looks to "spread good."
Apple flip-flopped on rule about officers' stock holdings.
Best Buy and founder end talks on ownership deal.
Boeing pares workforce for grounded Dreamliner.
Diageo prepares to buy majority stake in United Spirits.
Disney finds CEO Robert Iger under fire over power and pay.
Domino's Pizza plans to increase national ad spending. Continue reading...