Time to Book Profits

It seems like Barnes & Noble (BKS) can't catch a break. But when you think about it, why should it? While many think of Best Buy (BBY) when they talk of companies that are seeing revenue pressure due to "show rooming" -- the trend toward browsing in stores but buying online -- one of the real victims has been the book industry. At the same time, the move to tablets, e-readers and, to some extent, smartphones from the likes of Apple (AAPL), Samsung, Amazon (AMZN) and others is fostering the shift to digital downloads of books and magazines. If you have been one of the increasingly few people to walk a bookstore, you've seen them try to combat this by selling cards, toys and other gifts. 

It doesn't appear to be working. We all know Borders bowed out to the pressure in 2011 and this morning, Barnes & Noble Chief Executive Officer William Lynch resigned, effective immediately. In the same statement, the company also stated that is it is in the process of reviewing its current strategic plan and will provide an update when appropriate. While the first announcement is not good -- and calls into question the company's strategy following the recent decision to stop manufacturing its Nook tablets -- the latter is likely a preannouncement that the company is planning to put itself in play. ...315 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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