Despite record ebook sales across the publishing world in 2012, Barnes & Noble is forewarning investors and the media that its Nook division - which includes tablets, e-readers and ebooks – didn’t perform as well as expected last year.
According to the Wall Street Journal, the prominent retailer says its Nook business “will perform worse for the fiscal year ended April 27 than forecast as recently as early January.”
Incredibly, the retailer says its Nook business would have losses before interest, taxes, depreciation and amortization greater than in fiscal 2012.
The statement contrasted with the retailer’s early January statement that Nook losses would be about comparable to 2012.
Barnes & Noble also anticipates fiscal year 2013 Nook Media revenue will be less than $3 billion. As of last month, revenue projections were more optimistic.
Originally scheduled for February 19th, Barnes & Noble’s next earnings report will now take place on February 28th instead.