Bookseller Barnes and Nobles reports big losses for the second quarter.
Shares plummeted 16 percent today. The quarter keeps getting tougher as the company’s chairman announced he is ditching his bid to buy the retail part of the business.
The news comes as no surprise given the book dealer’s retail business lost $87 million last quarter and sales for the year fell 8.5 percent.
Sales for its Nook e-readers also dropped more than 20 percent last year.