News Summary: Barnes & Noble 1Q loss widens

News Summary: Barnes & Noble 1st-quarter loss widens on declining sales

Associated Press

NEW YORK (AP) -- LOSS DOUBLED: Barnes & Noble fiscal first-quarter loss nearly doubled as the company faced declining sales at its retail stores and from its Nook e-books and e-book readers.

STRATEGY REVIEW: Barnes & Noble is reviewing its strategy in the wake of CEO William Lynch's departure in June and continuing declines in Nook revenue, a unit the company has invested heavily in. The company said it plans to release at least one new Nook for the holiday season with more in development.

ANOTHER BLOW: Meanwhile Chairman Leonard Riggio said he is ending a bid for the company's bookstores.

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