Barnes & Noble’s revenues increased 2 percent percent year-over-year to $7.1 billion during its fiscal 2012 year, which ended on April 28.
However, device sales dropped during the fourth quarter. AppNewser has more from the release: “Device sales declined during the fourth quarter due to higher third-party channel partner returns, lower selling volume and lower average selling prices.”
Barnes & Noble CEO William Lynch explained: “At retail, we had a terrific year growing comparable bookstore sales 4.5% for the quarter and 1.4% for the year, a result of our effective new merchandising efforts and continued industry consolidation. As we look out to fiscal 2013, we feel the company is strategically well positioned to grow value for shareholders.” Read more