Troubled bookseller Barnes & Noble reported its holiday sales results on Thursday, and the numbers aren’t pretty. Barnes & Noble’s retail revenues dipped 6.6 percent over the 2012 holiday season, with revenues of $.1 billion. Meanwhile, Barnes & Noble’s Nook business reported a 60.5-percent decrease in revenues over the same period last year, with just $125 million in revenue. The company reported $88.7 million in revenue for device and accessory sales, down 66.7 percent from the 2012 holiday season.
“Sales in the NOOK segment declined year-over-year largely because during the previous holiday season the company introduced two new tablet products, while no new tablets were introduced this year,” CEO Michael P. Huseby said. “Instead, we executed our plan to sell through our existing high-quality devices.”
Barnes & Noble has struggled to compete against Amazon, the powerhouse in the book and online retail business, and most recently noted a 32.2 percent decrease in revenues quarter-over-quarter. Perhaps there’s a plan in place to help Barnes & Noble out of its Nook slump, but it’s starting to look more and more like the company should just exit that business altogether.