Barnes & Noble Is In Trouble And Amazon Is Making It Worse

By Erik Dolan-Del Vecchio

Barnes & Noble experienced its first holiday sales drop in three years, and coloring books and Amazon are largely to blame.

Demand for coloring books and art supplies surged last year, but this year people lost interest and the firms same-store sales fell 9.1% during the holiday season, Bloomberg reports. The bookstores shares fell 7.5% to $10.55, marking the largest intraday fall in nearly four months after the stock gained 24% over the last year.

Barnes & Nobles poor results come just as Amazon beefs up its brick-and-mortar bookstore presence with plans to add its newest store in NYC. [Bloomberg ]