Barnes & Noble filed its proxy statement and 10-k report
with the Securities & Exchange Commission Monday morning, and in the
filings provided no update on whether or when Nook Media may be separated from
the retail trade group. Referring to the strategic review of a possible split,
the 10-K stated that “There can be no assurance that the review will result in
a strategic separation or the creation of a stand-alone public company, and
there is no timetable for this review.” In the 10-k, B&N repeated what it has said elsewhere in
terms of it plans for its physical stores—it will close more stores than it
opens. “Management generally believes that the Company’s retail stores are
located in attractive geographic markets, and generally does not have a
strategy to open retail stores in new geographic markets or to expand the total
number of retail stores, and expects to close more retail stores than it
opens,” the 10-K read. B&N closed fiscal 2013 with 675 stores. B&N has
said it plans to close 15 to 20 outlets this year and open as many as five. Finally, the company released a restatement of results from
earlier fiscal years that cuts its loss in fiscal 2012 by about $4 million.
