Barnes & Noble Sees 3Q Loss; Shares Fall

NEW YORK (TheStreet) -- Investors are closing the book on Barnes & Noble (BKS Quote)after the retailer said it expects to be in the red in the second quarter.

The news sent shares tumbling 9.1% to $21.71 in afternoon trading.

The company forecasts a loss between 45 cents and 55 cents a share, which includes one-time transaction and higher interest expenses and costs related to its purchase of Barnes & Noble College Booksellers in August.

This loss is much steeper than the 18-cent loss analysts are expecting, but consensus estimates generally exclude one-time items, so the guidance is not comparable.

For the full year, the bookseller predicts earnings in the range of $1.52 to $1.82 excluding one-time items, higher than the $1.38 a share analysts forecast.

-- Reported by Jeanine Poggi in New York

Follow TheStreet.com on Twitter and become a fan on Facebook.