News Summary: Barnes & Noble turns 2Q profit

Staff Writer
Columbus CEO

THE NEWS: Barnes & Noble returned to a profit in the fiscal second quarter as it invested less in its Nook e-book reader and cost-cutting offset lower sales.

THE STOCK: The New York company's sales missed expectations, and its shares sank nearly 6 percent in midday trading.

THE BIG PICTURE: The report comes as the crucial holiday season kicks off, when retailers can make up to 40 percent of their annual revenue. B&N introduced a new non-tablet e-book reader, a $119 Nook GlowLight, for the holidays and has stepped up marketing to lure customers into its stores.