Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, January 8, 2014

Barnes & Noble names head of digital division as CEO, (NYSE: BKS)

Barnes & Noble Inc said on Wednesday that Michael Huseby, the head of its digital division, was named chief executive, a move Wall Street interpreted to mean the bookseller still sees e-books and e-readers as a priority.The largest U.S. bookstore chain had been without a CEO since July, when William Lynch resigned in the wake of several quarters of poor sales of Barnes & Noble's Nook e-readers and e-books business, which he developed. Last quarter, Nook division sales fell 32 percent, continuing the decline.Huseby joined Barnes & Noble as finance chief in March 2012 and was made head of its Nook digital unit last summer.The selection of Huseby "shows tech still a priority," said Barclays Capital analyst Alan Rifkin in the headline of a research note.

Barnes & Noble, Inc. (Barnes & Noble) is a bookseller. Shares of BKS fell by 0.81% or $-0.12/share to $14.63. In the past year, the shares have traded as low as $12.59 and as high as $23.71. On average, 1216760 shares of BKS exchange hands on a given day and today's volume is recorded at 1451188.