Barnes & Noble profits fall by a quarter (BBC)

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Barnes & Noble has reported a slump in profits and suspended its dividend payments as it continues to invest heavily in its e-book strategy.

Net profits for the three months to the end of January came in at $60.6m (£37.6m), a drop of 25% on the $80.4m it made a year earlier.

Shares in what is the largest US bookseller fell 11% after the results.

Last week, rival bookstore Borders filed for bankruptcy protection amid declining sales.

Barnes & Noble also said it would not be making any sales or profits forecasts for the current quarter.
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more: http://www.bbc.co.uk/news/business-12544612