Shares of America's largest bookstore retailer, Barnes & Noble Inc., fell $0.44 to $19.90 today.
A new review from Fortune calls the new, black-and-white Nook the anti-iPad. In it, JP Mangalindan says the Nook is an unapologetic, laser-beam focused e-reader that does little else and doesn't bother to placate tablet proponents with so much as a full-fledged browser. But what it does do, it does exceptionally well, better than its nearest rival, the Kindle.
Bankrupt Borders Group Inc. went up one cent in pink-sheets trading, from $0.23 to $0.24 per share.
Shares of the nation's third-largest book retailer, Books-A-Million Inc., fell $0.15, to $3.25 a share. In a filing with the Securities and Exchange Commission last week, Books-A-Million reported that its sales fell 11.1 percent for the quarter ending April 30, to $104 million, compared to sales of $117 million for the same period a year ago.
The decline was the result of lower comparable store sales, which went down by $13.9 million (13.2 percent) to $91 million, according to the company.
Books-A-Million attributed the decrease to a weak bestseller publishing lineup compared to the prior year, the increasing transition of certain book categories to an electronic format, and the impact of tornados that hit our trade area at the end of the current quarter.
The company also closed two superstores during the quarter, it added.
But overall the company still reported profits of $28.6 million for the quarter -- compared to profits of $35.2 million for the same quarter in 2010.