Barnes & Noble has a wide range of digital initiatives in development, CEO Steve Riggio told analysts in Thursday morning’s conference call discussing year end results. Citing competitive concerns, however, Riggio declined to discuss specifics or give a timeframe from when new projects will be released. “We’ll announce them when they launch,” he said. The company is allocating $50 million of its $125 million capital budget this year to retail, IT, the Internet, digital initiatives and other items.
With the addition of Fictionwise, Riggio said B&N is prepared to sell a broader range of content in digital formats than it does through “the four walls of our stores” or from its Web site. Books, magazines and newspapers can all be sold digitally, Riggio said, noting that the resources the company has in place are scalable. He said digital delivery “opens a new door” for B&N, and added that many of B&N’s customers are eager to see the company enter the digital fray.
