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Although the Nook e-reader made a big splash when it debuted in 2009, Barnes & Noble, the nation's biggest bookstore chain, suffered a 25.9 percent drop in Nook revenues, including readers and e-book sales, for the fiscal third quarter ending January 26, Reuters reported.
Nook losses increased twofold, exceeding $190 million, as the company slashed prices on e-readers and tablets in the face of dismal sales during the holiday season, according to Reuters. B & N broke off its college bookstore business and Nook division last year under the Nook Media umbrella. The move attracted muscular investors such as Microsoft Corp. and Pearson LLC, though B & N retained a 78 percent ownership interest in Nook Media.
Although the book club enthusiast staff of "TUOL" continues to suffer paper cuts turning the pages of old-fangled books, the cutting-edge blog has studiously followed the progress and current decline of Nook (see "TUOL" posts 4/25/11, 2/9/10).