Barnes & Noble lowers earnings guidance
November 24th, 2009 admin
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Barnes & Noble reported that store sales fell 2% in their second quarter. BN.com sales rose 9% and College sales (from the newly purchased Barnes and Noble College Booksellers) were down 0.2% on the one month of sales that is measurable. Overall, BN reported a loss of $24 million, or 43 cents a share, 30 cents of which was attributed to operating loss and 13 cents to the acquisition of College Booksellers. BN warned that they “expect that general retail traffic will remain challenged during the holiday selling season,” and that even though the demand for their ereader, the Nook, has been ‘overwhelming’ they are incurring higher production costs than
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