Consumers can expect a color nook tablet device from Barnes and Noble at the beginning of 2015, an optimistic approach considering a fall in numbers for the third fiscal quarter.
"We have taken steps to reduce costs and device exposure, while focusing our efforts to reverse the content sales decline," Michael Huseby, CEO at Barnes and Noble said in a statement. "We remain committed to delivering world-class reading experiences to our customers through our reading centric e-Ink and color reading devices. The Company is actively engaged in discussions with several world-class hardware partners related to device development as well as content packaging and distribution. As a result, we plan to launch a new NOOK color device in early fiscal 2015," Huseby said in the statement.
The company also expects to unveil another educational device towards the end of 2014 the press release reported.
"We expect the soft launch of our higher education digital product before the end of this fiscal year. NOOK losses narrowed significantly as we achieved our objective of selling through much of our pre-holiday device inventory, while managing promotions to optimize sales," Huseby said in the statement.
The bookseller brought in 10.3 percent less income from combined sales in the financial period versus the year before a press release on the company's website reported Wednesday. Earnings for the quart $59 million the year before to $173 million.
"During the third quarter, the company significantly improved its balance sheet and bottom line, while making real progress on our strategic priorities," Huseby said in the statement.
"Retail's core comparable store sales benefited from a strong title line-up, strong execution and an effective advertising campaign," Huseby said in the statement. "College entered into the spring back-to-school rush and saw continued growth in its higher margin textbook rental business. This resulted in a slight EBITDA increase for College, even after funding and developing our digital educational applications"
