Barnes & Noble Inc. promoted Michael Huseby, who has served as its chief financial officer and president, to chief executive officer as the chain struggles to retain customers increasingly shifting to digital books.
Barnes & Noble Inc. tumbled the most in more than three months after disclosing an investigation by the U.S. Securities and Exchange Commission into its restatement of earnings and a former employee’s allegation of improper accounting.
Barnes & Noble Inc., the largest U.S. bookstore chain, fell the most in four months after forecasting a wider annual loss than analysts projected and saying it may spin off the Nook e-reader business, its fastest-growing unit.
Barnes & Noble Inc.’s move to shelve a breakup plan for now steps up pressure on the biggest U.S. bookstore chain to stem losses at its e-book division and hatch a new plan for coping with the shift toward digital publications.
Barnes & Noble Inc. plans to release a software update to its Nook e-reader this week to stop the screen from freezing, increase its speed and offer a Web browser and games for the first time, a company executive said.
Apple Inc.’s best defense against accusations it conspired to fix e-book prices may turn on its absence from meetings in Manhattan restaurants where publishing executives allegedly worked out the scheme.
Borders Group Inc. , the second- biggest U.S. bookstore chain, filed for bankruptcy in New York today after management changes, job cuts and debt restructuring failed to make up for sagging book sales in the face of competition from Amazon.com Inc. and Wal-Mart Stores Inc.
Retailers’ slowest earnings growth since the last recession has them bracing for a weakened second half as the U.S. economy leaves consumers confronting the prospect of losing their jobs and a volatile stock market.