Barnes & Noble Inc, which in July fired its chief govt officer, stated on Thursday it will start the method to discover a substitute solely after its annual shareholder assembly in early October.
Demos Parneros, who was fired over allegations of sexual harassment and different inappropriate conduct, sued Barnes & Noble in August, saying that the corporate had falsely accused him of violating its sexual harassment coverage.
The corporate is within the strategy of “therapeutic and fixing,” Chairman Leonard Riggio stated on a post-earnings name with analysts, including that the previous CEO’s lawsuit was “nothing however a smokescreen in an try to extort cash from the corporate.”
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Barnes & Noble additionally reported a bigger-than-expected first-quarter loss as gross sales have been hit by a “main glitch” within the firm’s web site that stopped prospects from trying up if their native retailer had a guide in inventory. Similar-store gross sales additionally dropped greater than analysts’ estimates.
The corporate’s shares have been down 7 p.c at $4.60 on Thursday.
(Reporting by Uday Sampath in Bengaluru; Enhancing by Sriraj Kalluvila)