Tags: Barnes andNoble Retail Group CEO Sells Shares

Barnes & Noble Retail Group CEO Sells Shares

Tuesday, 27 Aug 2013 11:44 AM

Mitchell Klipper, CEO of Barnes & Noble's retail group, which includes its bookstores but not its Nook unit, sold about 67 percent of his shares of the company, according to an SEC filing late Monday.

Klipper sold a total of about 400,996 shares for between $13.99 and $14.53 per share.

He had about 598,371 shares as of July 17, according to FactSet, equivalent to a 1 percent stake in the company.

Barnes & Noble is in a transition period following the departure of CEO William Lynch. It is reviewing its strategy related to its Nook e-book readers, which it invested heavily in as consumers increasingly turn online to buy books.

In its most recent quarter, its net loss nearly doubled and revenue fell nearly 9 percent to $1.33 billion.

Barnes & Noble's shares fell 22 cents to $14.10 in Tuesday morning trading after going as low as $13.84.

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Mitchell Klipper, CEO of Barnes & Noble's retail group, which includes its bookstores but not its Nook unit, sold about 67 percent of his shares of the company, according to an SEC filing late Monday.
Barnes andNoble Retail Group CEO Sells Shares
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2013-44-27
Tuesday, 27 Aug 2013 11:44 AM
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