End of Summer fun day - Wigan Town Centre 3rd September 2011
Tags
oyphotos
dave green
nikon d700
photo
picture of
england
2011
wigan
fun day
wigan town centre events
people
music
musicians
wigan life
3rd september, unsworth, fun day, summer fun, zoe
3 Eylül 2011 Cumartesi
DN2_1132.jpg
DN2_1132.jpg
Tags
Bosley Mark I GT Coupe
Pebble Beach Tour d'Elegance
Pebble Beach
California
2 Eylül 2011 Cuma
Rear view with kundu drum
Celebrating the Bargam New Testament dedication
Tags
Papua New Guinea
PNG
Madang
Province
Niugini
Bargam
Bible
dedication
Testament
kundu, new testament, rear view
1 Eylül 2011 Perşembe
DIL_4780
DIL_4780
August 9th
Whitby
Mist, Rocks and Coastline
Tags
Mist
Rocks
Stones
Coastline
Seaside
Ocean
Sea
Barnes & Noble opens its books on the Nook
Barnes & Noble opened its books again yesterday, giving investors financial guidance -- and raised a few eyebrows in the process.
The New York-based bookseller -- whose founder Len Riggio agreed this month to sell a 16.6-percent stake in the company to billionaire media mogul John Malone for $204 million -- sounded upbeat notes about the holidays and predicted sales from its Nook e-reader device will double next year.
“We’re convinced this holiday will be the biggest traffic we’ve had in the stores in over five years,” CEO William Lynch told analysts on a call yesterday, noting that B&N expected its stores to benefit from the demise of rival Borders.
The guidance and bullish commentary sent B&N shares soaring $1.70, or nearly 15 percent, to close at $13.13.
That’s partly because the commentary contrasted sharply from two months ago, when the B&N execs refused to give an annual forecast or provide any specifics on the progress of the Nook, sending the company’s shares tumbling 6 percent.
B&N spokeswoman Mary Ellen Keating told The Post yesterday that the company had pulled financial forecasts beginning last November because of uncertainty surrounding the Borders bankruptcy, and withheld it in June because of deal negotiations with Malone’s Liberty Media.
“We’re now returning to guidance because both of those things have passed, and we have greater visibility into the business,” Keating told The Post.
Still, some investors questioned the timing of the quick turnaround in tone, noting that B&N’s downbeat comments in June had allowed Malone to scoop up his investment on the cheap.
“Malone is there to act as a buffer against Burkle,” according to one B&N shareholder, referring to Los Angeles billionaire Ron Burkle, whose investment firm Yucaipa owns about 20 percent of B&N’s stock and has accused Riggio of poor corporate governance.
Representatives for Malone and Burkle declined to comment.
jcovert@nypost.com
media mogul, financial guidance, ron burkle, e reader, riggio, john malone, financial forecasts, liberty media, corporate governance, investment firm, yucaipa, billionaire, last november, execs, bookseller, eyebrows, demise, specifics, spokeswoman, shareholder
Kaydol:
Kayıtlar (Atom)