Barnes and Noble has said revenues at its NOOK Media spin-off will be lower than originally expected.
The company had predicted fiscal year 2013 revenues to be $3 billion, however it has now issued an update saying it “expects fiscal year 2013 NOOK Media revenues to be less than $3 billion.”
The statement adds: “Based on current forecasts, the Company now expects its fiscal year 2013 NOOK segment EBITDA loss to be greater than it was in fiscal 2012”.
The company, which has announced plans to close a third of is US retail network, spun-off NOOK last year in a deal which saw Microsoft make a$300m investment in the new company.
