Friday, November 21, 2008

Trouble at B&N

From today's Shelf Awareness:
Sales at Barnes & Noble in the third quarter ended November 1 fell 4.4% to $1.1 billion, and the net loss was $18.4 million compared to a net gain of $4.4 million in the same period in 2007. Sales at stores open at least a year fell 7.4%. Sales at B& rose 2% to $109 million.

The company also lowered predictions for the fourth quarter, saying it expects comp-store sales to decline 6%-9% and for the full year to drop 5%-6%.

The article indicated that these results were below the markets expectations. The company's CEO blamed a drop in customer traffic and in spending.

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