US bookstore chain Barnes & Noble has seen its fourth-quarter net loss more than double to US$118.6 million dollars as sales of its Nook e-books and devices continue to drop. Sales in the Nook business fell 34 per cent from a year ago, leading to the division making a US$177 million loss
To try to cut losses in the segment, the firm said its tablets would now be co-branded and produced in partnership with a third party manufacturer. The company launched its first Nook e-reader in 2009 in an attempt to take on Amazon's Kindle in the growing e-books market. But it has been an expensive project and sales have fallen.
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