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Sunday
- August 6, 2000
BN.com Not a Best Seller
According to Forbes:
"Even a wizard like Harry Potter might
be stumped by the slump Barnesandnoble.com is in. The brothers
Riggio may have a trick up their sleeves, but that wasn't
evident this week as the site's battered shares sunk 30%
on its second-quarter earnings report and analysts downgraded
the stock.
Barnesandnoble.com, headed by Chairman Leonard
Riggio and acting Chief Executive Stephen Riggio, shouldn't
be in as much trouble as it is, regardless of the hard times
in e-tailing. The factors impeding many online retailers
are not a problem for the No. 2 online bookseller. While
cash-burn rates are killing its competitors, the company
says it has $356 million on hand, which will last through
24 months of operations, and no debt..."
Click
here for the full story including why BN.com should
have a low customer conversion rate online, but doesn't.
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2000 News Archive
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