NEW YORK (AP) -- Mitchell Klipper, CEO of Barnes & Noble's retail group, which includes its bookstores but not its Nook unit, sold about 67% of his shares of the company, according to an SEC filing late Monday.

Klipper sold a total of about 400,996 shares for between $13.99 and $14.53 per share. He had about 598,371 shares as of July 17, according to FactSet, equivalent to a 1% stake in the company.

Barnes & Noble is in a transition period following the departure of CEO William Lynch. It is reviewing its strategy related to its Nook e-book readers, which it invested heavily in as consumers increasingly turn online to buy books.

In its most recent quarter, its net loss nearly doubled and revenue fell nearly 9% to $1.33 billion. Last week, Barnes & Noble founder Leonard Riggio took his offer to buy the company's retail operations off the table.

link

The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.