Dive Summary:

• In-store and online sales continued to decrease sharply for Barnes & Noble as the company reported its quarterly earnings, according to an article published by Reuters.
• The largest bookstores chain in the U.S. saw sales revenue from its Nook business decline 34% despite slashing prices on the product, along with other merchandise.
• Barnes & Noble reported a total net loss of $118.6 million during the fourth fiscal quarter which ended April 27, more than double the $56.9 million loss during the same period in 2012.

From the article:

At its namesake bookstores, sales at stores open at least 15 months fell 8.8 percent. Barnes & Noble expects retail sales to be down by a high single digit percentage in its new fiscal year. Companywide, revenue was down 7.4 percent to $1.28 billion.