Barnes & Noble is putting itself up for sale! Remember when everyone thought B&N would become the Wal-Mart of book selling, an indomitable corporate force controlling the literary world? Boy how wrong that was, huh?
- "Today, Barnes & Noble has a market capitalization of just under $950 million-even after a 25% run-up in after-hours trading Tuesday in the wake of the announcement," says the WSJ. Christ, that's even less than the New York Times Co. Amazon's market cap: $56 billion.
- "Over the past three years, Barnes & Noble's annual profits have slid from $135.8 million to $75.9 million to $36.7 million." Amazon's net income over that same period: $476 million, $645 million, $902 million.
- B&N's five year stock chart:
Amazon's five year stock chart:
- That's all, folks. Nowhere to go but... up? Yes, we'll say "up," for sales purposes.