Barnes & Noble Chief Executive Officer William Lynch has resigned effective immediately, the U.S. bookstore chain said on Monday.
Barnes & Noble shares fell 5 percent to below $17 in after-hours trading Monday.
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The news came just weeks after the company reported another quarter of dismal results, led by a 34-percent drop in sales of Nook devices and e-books business, and said it expected sales to continue to decline this fiscal year at its bookstores.