Barnes and Noble has lost over one billion dollars on trying to make the Nook brand into a viable business model. Since 2009 the largest bookseller in the US has gone through two CEO’s and has just announced they have hired their third, Ron Boire, who starts this September. It looks like the Nook brand is in seriously jeopardy.
Boire—who has only been CEO of the faltering Sears Canada department store chain for the last ten months has kept the store in business by closing retail locations and axing thousands of job will be the new CEO of Barnes and Noble. His number one priority with the company is to stem the blood loss from the ailing Nook division. Last week Barnes and Noble announced that Nook hardware and e-books sales fell 40% in the three months ending May 2 and declined 48% year on year.