Barnes & Noble Closes The Book On Nook
Barnes & Noble, the struggling bookseller, saw its shares jump 8% Wednesday after saying it will spin off its Nook digital book business. The Nook business, which produced digital readers that were a constant also-ran versus offerings from Amazon, Google and Apple, required heavy investments from the company that it was ill-prepared to afford. The company posted a loss of $36.7 million in the quarter ended May 3.
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