Earnings
Barnes & Noble Sees 3Q Loss; Shares Fall
Stock quotes in this article:BKS
NEW YORK (TheStreet) -- Investors are closing the book on Barnes & Noble (BKS)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.TheStreet Premium Services
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