Barnes & Noble Declines After Its Pivot Beyond Books Sputters
- Harry Potter drop-off also has contributed to slow sales
- Retailer posts wider loss in latest quarter as its woes mount
A Barnes & Noble store stands in New York.
Photographer: Eric Thayer/Bloomberg
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Barnes & Noble Inc., which posted a wider loss last quarter that sent its shares tumbling, is scaling back ambitions to become more than a bookseller.
The retailer had hoped that toys, games and other items would shore up its results, especially as Amazon.com Inc. ate away at its traditional business. But its non-book sales have flagged the past two quarters, and now the company is putting its focus back firmly on reading.