Barnes & Noble’s financial outlook does not look promising after reviewing the company’s third quarter results. The noteworthy books and music retailer experienced a greater loss than the previous year. A significant point of concern is the tripling of Barnes & Noble’s long-term debt over the past year, reaching a staggering $192 million. The company’s cash reserves have also depleted, dropping from $32 million to just $13.4 million in year’s time. Despite their best efforts to compete with Amazon, Barnes & Noble’s progress has been largely unsuccessful. A proof of this is highlighted by the 22% decrease in online sales in the most recent quarter, following the launch of a new, albeit faulty, website. Details of this story are available at CNN Money.
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