Barnes & Noble did not have a good quarter:
Barnes & Noble Inc. (BKS), the target of a $1 billion bid from Liberty Media Corp., posted a wider fourth- quarter loss from a year earlier, hurt by bankruptcy liquidation sales at Borders Group Inc. and investments in digital books.
The net loss totaled $59.4 million, or $1.04 a share, in the quarter ended April 30, the New York-based company said today in a statement. That missed the projected loss of 87 cents of David Strasser, an analyst at Janney Montgomery Scott LLC.
They're banking big on e-books, though, saying that e-books outsell physical books 3-to-1 on the company's website. And potential buyers of the flailing Borders chain are considering some bizarre strategies to keep the stores afloat:
Gores is considering turning Borders stores "into more appealing destinations akin to Apple Inc.'s outlets" and selling a new electronic books reader made by Hewlett-Packard in Borders stores, WSJ said. Meanwhile, Najafi is interested in promoting the Book-of-the-Month Club and Doubleday Book Club — both of which it already owns — at Borders.