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After Poor Quarter, B&N to Shrink Nook BusinessPosted at 4:34PM Thursday 28 Feb 2013 With sales in its Nook segment falling 26% in the third quarter ended January 31 and an EBITDA loss that increased to $190.4 million from $82.8 million, Barnes & Noble CEO William Lynch said the company is taking "significant actions to begin to right size our cost structure in the Nook segment" and will also take a large write down on Nook devices to try to sell existing inventory. Lynch also said that following the poor holiday season, B&N "is in the process of making adjustments to our strategy" although he said the Nook Media company remains committed "to its Tablet and e-reader business." Sales also fell in B&N's store categories, falling 10.3% at retail and 1.6% in college. In a bright spot, EBITDA in the retail store segment rose 7% to $212 million.
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