Barnes & Noble Reduces Staff After A Weak Holiday Season
NEW YORK (AP) — Barnes & Noble, the nation's largest bookseller, says it's laying off staff after a weak holiday shopping season.
The company declined to give the number of jobs cut.
The cuts come after New York-based Barnes & Noble said last month that its sales at established sales slid 6.4 percent during the crucial nine-week period ending Dec. 30.
Most retailers have strengthened digital operations and sales have followed. At Barnes & Noble, however, online sales dropped 4.5 percent.
Amazon.com is winning over more people each year to its Prime membership program, at one point handing out trial memberships to 4 million people in one week. The Seattle-based Amazon has also opened more than a dozen physical bookstores so far.
CNBC first reported the news about the layoffs.