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News Breaks
December 28, 2012
10:05 EDTBKS, PSOBarnes & Noble climbs after Pearson deal despite holiday sales miss
Barnes & Noble (BKS) is advancing after the company announced that its holiday sales would be lower than expected, but also said that British publishing company Pearson (PSO) would invest $89.5M in the American retailer's NOOK unit. Based on preliminary sales results during the holiday season and sales trends, Barnes & Noble expects its holiday sales results will be below expectations, while sales of the company's NOOK e-readers for its current year will not meet its previous forecast. On November 29, Barnes & Noble predicted that its losses from its NOOK unit, excluding certain items, would decrease during its current fiscal year. The retailer also previously reported that its NOOK unit sales had doubled over the four day Black Friday weekend. Meanwhile, Pearson agreed to invest $89.5M of cash in Barnes and Noble's NOOK unit, using a post-investment valuation of about $1.789B. Pearson will receive a 5% stake in the unit, Barnes & Noble added. In early trading, Barnes & Noble climbed 91c, or 6.34%, to $15.26.
News For BKS;PSO From The Last 14 Days
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July 10, 2014
06:56 EDTBKSBarnes & Noble promises nursing-friendly stores, Reuters says
Barnes & Noble promised to make its locations friendly to nursing mothers as part of a settlement with New York State after a woman who was breastfeeding was asked to cover herself or leave one of its stores, according to Reuters, citing comments from a representative for the bookseller. The company plans to donate $10K to Rockland County’s Breastfeeding Promotion and Support Program in response to the situation. Reference Link

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