Barnes & Noble to spin off college bookstores unit

Barnes & Noble said on Thursday it would spin off its college bookstores business into a separate publicly traded company.

Its best-performing sector, the company's educator division reported $10.7 million in profit on $977.4 million in sales in the 26 weeks ended Nov. 1, according to the New York Times.

“Separating Barnes & Noble Education will create an industry-leading, pure-play public company with more flexibility to pursue strategic opportunities in the growing educational services markets,” Michael Huseby, the bookseller’s chief executive, said in a statement.

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