Barnes & Noble is cutting staff, including cashiers, digital leads and others. CNBC reported that a final figure for the layoffs had not been determined. As of April 2017, the company employed 26,000 people.
Barnes & Noble’s holiday sales fell more than 6% to $953 million, compared to the same period in 2016. Year over year, same-store sales were down 6.4%, while online sales declined 4.5%.
The company’s holiday results ran counter to the overall retail industry, which saw a 4.9% increase from Thanksgiving through Christmas, the biggest gain since 2011, according to MasterCard Spending Pulse. The National Retail Federation pegged the growth even higher, at 5.5%.
You can read the full article by clicking here.