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August 6 – August 13, 2009 Edition
BN e-Book Store Prompts Stock Price Increase
NEW YORK, NY/Authorlink News/08/06/09–Barnes & Noble’s stock prices rose 54 percent as of August 3 on the heels of the launch of its e-reader bookstore in partnership with Plastic Logic last week, according to Chicago http://www.chicagotribune.com/topic/economy-business-finance/barnes-%26-noble-incorporated-ORCRP001675.topic Tribune columnist Andrew Leckey. B&N will offer 700,000 titles as it battles Amazon.com http://www.chicagotribune.com/topic/economy-business-finance/amazon.com-inc.-ORCRP000672.topic ‘s Kindle and Sony http://www.chicagotribune.com/topic/economy-business-finance/sony-corp.-ORCRP014162.topic ‘s Reader.
B&N has little debt and a solid balance sheet, and it has eliminated more than 100 jobs this year to save money. The company’s five-year annualized growth projection of 9 percent compares to 12 percent forecast for the specialty retail industry.
Meanwhile, Sony claims to offer the largest e-bookstore with more than 1 million free books in a new partnership with Google.