Today Barnes & Noble released their numbers for their fiscal 2011 first quarter ended July 31, 2010. Although the book retailer saw a 2% decrease in sales at their store locations during Q1, they saw a 42% increase in online sales.
The jump in sales that Barnes & Noble has seen online has been attributed to the Nook, which launched in November last year. Sales of the Nook alone jumped with the drop in the eReader’s price from $259 to $199.
Chief executive officer of Barnes & Noble, William Lynch, stated, “Our digital strategy has clearly resonated with our customers as our Members – our best customers – with NOOK devices have increased their spending by approximately 20%. NOOK has also greatly expanded the Barnes & Noble customer base, with 25% of all NOOK customers new to BN.com.”
Despite the fact that Barnes & Noble is expecting a continued decrease in sales at store locations, they are expecting the Nook to continue to perform well.
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