By Katie McCaskey
Barnes & Noble (BKS Quote) is ringing up the sales while its chief rival,
Borders (BGP Quote), is struggling.
Consumer spending is up 11% since April at Barnes & Noble and down 4% at Borders in the same period, according to the Main Street Spending Index (MSSI) compiled by
Geezeo a personal finance Web site that helps consumers track their spending.
In April, both bookstore chains were running about even, with monthly spending by customers averaging $33.08 at Barnes & Noble and $33.17 at Borders. As of October, monthly consumer spending rose to $36.62 at Barnes & Noble and shrank to $31.89 at Borders.
In October, rival
Amazon (AMZN Quote) reported sales were up 31% from the year-ago quarter.
Books-A-Million (BAMM Quote) is scheduled to report its earnings Friday.
Is the book closed on Borders? Maybe not, Borders has seen 500% growth in Internet visits since April, while Barnes & Noble has seen declines, according to Compete.com. Given the growth in their internet channel, we may see a Borders rebound this holiday.
Geezeo's Main Street Spending Index tracks more than 4 million consumer transactions from 800 companies doing business in the United States and Canada. Market segments include retail, dining out, entertainment, household and utilities. Data is anonymously collected weekly and based on up-to-date bank information.
To view the full index and see how other stocks are performing, click here:
Main Street Spending Index (MSSI).
For more information about Geezeo or to track your own expenses and find ways to save, visit www.geezeo.com. More than half of people using Geezeo's free budget tools are saving an estimated $1,200 annually.
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