More bad news from Barnes & Noble Inc.
The nation’s largest brick-and-mortar book retailer is warning that it will not meet expectations for another quarter.
The company said late Wednesday that it will report results for the third quarter of the 2013 fiscal year before the market opens on Feb. 28, and that the news will not be good â€" particularly for the Nook digital unit.
“Based on current forecasts,†the company wrote in a warning statement, “the company now expects its fiscal year 2013 Nook segment Ebitda loss to be greater than it was in fiscal 2012 and expects fiscal year 2013 Nook Media revenues to be less than $3 billion.â€
(The Nook unit includes e-readers, tablets, digital content and accessories. Ebitda refers to earnings before interest, taxes, depreciation and amortization.)
Last year, Barnes & Noble signaled its commitment to a digital future led by Nook by investing heavily in a tablet to compete with products from Google, Apple and Amazon.com.
