Barnes & Noble Loss Widens on Higher Expenses
Barnes & Noble Inc.’s fiscal fourth-quarter loss widened on higher expenses, though the bookseller posted higher revenue, thanks to surging online sales.
The nation’s largest book-store chain offered no guidance for the current fiscal year as its board of directors continues to evaluate a takeover offer made last month by billionaire John Malone’s Liberty Media Holding Corp. Liberty’s closely watched offer values the chain at $17 a share, or about $1.02 billion, a valuation that some said is too low, given the possibilities for Barnes & Noble’s increasingly popular Nook e-book device in the rapidly growing e-reader market.
