From
MarketWatch. The year-end numbers are, of course, interesting, but I find the guidance for 2011 even more so:
"We are pleased that in the fourth quarter each of our three channels of business have all gained significant share: physical bookstores, digital books and books sold online at bn.com. In fact, in just a brief 12 months since we launched the Barnes and Noble ebookstore, our share of the digital market already exceeds our share of the retail book market," said William Lynch, chief executive officer of Barnes & Noble, Inc. "In light of the exciting digital opportunity before us, we are planning to redirect a significant portion of our financial resources towards investments in technology, sales and marketing. These investments will impact our bottom line in 2011, but we believe they will enable Barnes & Noble to capitalize on the significant mid-to-long-term growth opportunities presented by the digital markets." ...
"'The explosive growth of digital books has created the most compelling opportunity in Barnes & Noble's history,' said Leonard Riggio, chairman of Barnes & Noble, Inc. 'We have found that Barnes & Noble Members, our best customers, have increased their combined physical and digital spend with us by 17 percent since purchasing a NOOK(TM), and by a phenomenal 70 percent in total units. Based on our assessment of the future digital landscape, I am confident that we have the right strategy and management team to drive Barnes & Noble's next phase of growth and development.'"
