Barnes & Noble Web unit to go public

Article Abstract:

Barnes & Noble said it would hold an initial public offering on 20% of its Barnesandnoble.com online venture, possibly as soon as late Sep 1998. Barnesandnoble.com's $14 million in 1997 sales trailed online leader Amazon.com's $147.8 million. Barnes & Noble, which is the largest US bookstore chain, also announced a 2nd qtr 1998 loss of $5.7 million, or 8 cents a fully diluted share. A $23 million loss from Barnesandnoble.com contributed mostly to the loss. This result triples the company's 2nd qtr 1997 setback of $1.37 million, or 2 cents a share. Revenue of $675 million, meanwhile, represents a 9.3% gain. All financial results are consistent with analysts's projections. Barnes & Noble Vice Chmn Stephen Riggio will remain as CEO of Barnesandnoble.com, but Barnes & Noble hired some other top executives in summer 1998 to help the online venture. A redesign has helped the company's Web site, www.barnesandnoble.com, grow from 500,000 customers in May 1997 to 720,000 in early Aug 1998.

Book Stores, Electronic commerce, E-commerce, Initial public offerings, BKS, Company public offering, barnesandnoble.com Inc.

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Amazon surge may reflect the new math of the Internet

Article Abstract:

Amazon.com's stock price is soaring despite the fact that by investment analysts standards the company should not be doing well at all because of the fact that they have never shown a profit. However, last week was a stock-buying feeding frenzy that brought the value of the Internet booksellers' stock to more than $30 billion, more than the combined value of leading retailers J.C. Penney and Kmart. Some investment analysts attribute Amazon.com's success to investors interest in Internet stocks, the high sales figures for Amazon.com over the Christmas season, rumors of a stock split and their spot as the number one bookseller on the Internet. This company's success has lead investment analysts to rethink their criteria for rating the value of Internet concerns.

Mail Order Houses, Electronic Shopping and Mail-Order Houses, Financial analysis, Catalog and mail-order houses, Prices and rates, Stocks, Mail order business, Online shopping, Amazon.com Inc., Stock prices, Company securities, AMZN

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Barnes & Noble Web unit to go public

Article Abstract:

Barnes and Noble Inc. has announced an initial public offering of its online venture, Barnesandnoble.com. The online unit, which had sales of $14 million in 1997 compared to $147.8 million for industry leader Amazon.com, will offer 20% of its shares to the public. The company announced a tripling of losses to $5.7 million in the second quarter, compared to the previous year's same quarter, due to a $23 million loss for its online business. The company also reported that its online business has seen a steady increase in users, reaching 720,000 customers by early August.

Comment:

Has announced an initial public offering of its online venture, Barnesandnoble.com

On-Line Information Services, Videotex & Teletext, Company Planning/Goals, Securities issued, listed, Internet services, Article

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