Skip to content
Subscriber Only

Barnes & Noble Agrees to Spin Off Nook Unit as Sales Decline

Barnes & Noble Inc., facing declining sales at both its bookstore chain and Nook electronic-reader business, plans to split them into separately traded companies to improve performance.

The spinoff will be completed by the first quarter of next year, New York-based Barnes & Noble said today in a statement. The company also reported fourth-quarter results, with the bookstore chain’s same-store sales falling and the Nook unit posting continued losses. Barnes & Noble said same-store sales would decline in the “low-single digits” this fiscal year.