Bookseller Barnes & Noble today reported a smaller quarterly loss and said it would separate its retail and Nook Media businesses. 

The company said its net loss narrowed to $36.7m, or 72 cents per share, in the fourth quarter ended May 3, from $114.8m, or $2.04 per share, a year earlier. 

Revenue for the quarter rose 3% to $1.32 billion. 

Nook Media, formed in 2012, consists of the company's devices, digital content and college bookstore businesses. 

Microsoft owns about 17% of Nook Media while Pearson, the owner of the Financial Times, has a 5% stake.