It seems like Barnes & Noble’s Nook is performing as poorly as expected. The book retailer announced its second quarter financial results which showed major declines from last year’s sales – $109 million compared to last year’s $160 million in the quarter ending in October.
The NOOK segment, which consists of the company’s digital business (including digital content, devices and accessories), reported revenues of $109 million for the quarter, decreasing 32.2% from a year ago. Digital content sales were $57 million for the quarter, a decline of 21.2% compared to a year ago, due to lower average selling prices and lower device unit sales. Device and accessories sales were $51 million for the quarter, a decrease of 41.3% from a year ago, due to lower unit selling volume and lower average selling prices.
The struggling bookseller also saw declines in overall revenues – Barnes & Noble lost 8% of revenue, including sales in its brick and mortar stores. To see the retailer’s full financial report, go here.