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Book chain halts dividend, shifts focus

Barnes & Noble’s online sales were up 53 percent last quarter. Online sales have grown steadily since the Nook’s release in 2009. Barnes & Noble’s online sales were up 53 percent last quarter. Online sales have grown steadily since the Nook’s release in 2009. (Boston Globe/ File 2009)
February 23, 2011

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The largest US bookstore chain suspended its dividend to conserve cash and invest in digital reading. Barnes & Noble Inc.’s third-quarter revenue rose, but its net income fell 25 percent as it continued to invest in its online operations and Nook e-readers. The company won’t forecast fourth-quarter or full-year earnings due to the effect of last week’s bankruptcy filing by its chief rival, Borders Group.