'Fifty Shades' helps Barnes & Noble in 1Q
NEW YORK—Barnes & Noble says its fiscal first-quarter loss narrowed, lifted by sales of e-books and other digital content as well as sales of the "Fifty Shades of Grey" series at its bookstores.
The largest traditional U.S. book retailer faces tough competition from online retailers and discount stores and has invested heavily in its Nook e-reader and e-books.
Barnes & Noble Inc. lost $41 million, or 78 cents per share. A year earlier it lost $56.6 million, or 99 cents per share.
Revenue climbed 2 percent to $1.45 billion from $1.42 billion.
Digital content sales rose 46 percent, while revenue from bookstores open at least a year increased 4.6 percent. The company also said Tuesday that Borders' liquidation helped its performance.
Its stock gained more than 5 percent in premarket trading.