Nook drives Barnes & Noble festive sales



Nook

Nook

The e-book reader Nook’s popularity has driven the sales of Barnes & Noble for the Christmas and New Year period, the company said in a statement on Monday.

In the nine weeks leading to January 1, 2011; the biggest US bookseller recorded a 9.7% jump in sales compared to the same period, last year – excluding new store sales.

The sales figure achieved during the key period is higher than Barnes and Noble had projected before.

Ironically, one of Barnes & Noble’s competitors in the US Market – The Borders Group, announced the loss of its two key executives on Monday. Chief Information Officer (CIO), Scott Laverty put in his papers while Executive Director Thomas Carney decided to call it a day as well.

Borders have been struggling with its sales in the wake of the financial meltdown and announced last week that it will delay payments to its publishers to preserve cash. The group may sell some of its assets as well to raise cash, it said.

Analysts blame Borders for failing to develop a rival product for Amazon’s best selling e-book reader – the Kindle.

Barnes & Noble reported that its own e-book reader – the Nook, is the single best-selling item in the US market.

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