Barnes & Noble's loss more than doubles
NEW YORK -- Sales plummeted at Barnes & Noble bookstores in the latest quarter and its Nook e-book devices failed to keep up with competitors, pushing the company to a net loss that more than doubled from a year ago.
The largest traditional U.S. bookseller said Tuesday that it will stop making its own Nook color touchscreen tablets as a result, a move intended to stem the losses it's suffering from its digital unit.
It said it will continue to make its more basic, black-and-white e-readers but farm out the tablet manufacturing to a third-party.
Barnes & Noble Inc. had been pouring money into developing its Nook devices to keep up with changing reading habits and beat back competition from retailers such as Amazon, which makes the popular Kindle readers.
It hasn't worked. According to research firm IDC, Barnes & Noble's tablet shipments fell to 1 million in the fourth quarter, down from 1.4 million a year earlier. At the same time, sales of Kindle e-readers have kept growing.
Halls of fame for toys to combine under one roof
ROCHESTER, N.Y. -- The great minds of the toy industry will be honored alongside their famous creations when the Toy Industry Hall of Fame combines with the National Toy Hall of Fame under a partnership announced Tuesday.
The 5,000-square-foot National Toy Hall of Fame gallery at the Strong museum in Rochester will undergo $4 million in renovations, with the goal of opening the combined hall in the fall of 2015.
The Toy Industry Hall of Fame, whose inductees have included Milton Bradley, Frederick August Otto Schwarz, Walt Disney and George Lucas, has been without a physical presence for about eight years following the closure of the International Toy Center in New York City.
Akron mulls effect of food truck operators
AKRON, Ohio -- Officials in one northeast Ohio city aren't exactly eating up the new food-truck craze.
The president of the city council in Akron said Monday a committee will look into food trucks and what effect they've had on established restaurants in other cities where they are popular.
Local food-truck operators and their supporters have been lobbying the council through social media and other means to permit them in the city. But the Downtown Akron Partnership has raised concerns about food trucks competing with downtown restaurants.
Other cities elsewhere are also dealing with a proliferation of food trucks. Food truck operators have pushed for the freedom to operate, while traditional restaurants have fought it, arguing they can't compete with the lower-overhead of rolling food-providers.