Revenues in Barnes & Noble’s Nook segment plummeted 54...

Revenues in Barnes & Noble’s Nook segment plummeted 54 percent to $70 million for fiscal Q1 2015 ended Aug. 2, the company said Tuesday in an earnings release (http://bit.ly/ZfKmo7). Within the Nook unit, device and accessories sales plunged 79 percent to $18 million for the quarter, while digital content sales fell 24 percent to $52 million, it said. Nook EBITDA losses narrowed to $5 million from $55 million in the year-ago quarter due to cost-cutting efforts last year, the company said. Those included a $7 million benefit on the settlement of device parts and components liabilities and $6 million on lease adjustments for the relocation from its Palo Alto, California, facility, it said. Barnes & Noble continues to make progress on the planned separation of its Barnes & Noble Retail and Nook Media businesses by early next year and has been exploring various options including discussions with partners to “potentially restructure existing agreements” and with “potential third-party partners,” it said. Overall for fiscal Q1, Barnes & Noble had a loss of $28 million versus $87 million in the year-ago quarter, while sales dipped to $1.2 billion from $1.3 billion for the period.