The New York bookseller reported a loss of $57 million, or 99 cents a share, for the three months ended July 30 with total sales rising 2% year-over-year to $1.42 billion and same-store sales slipping 1.6%.
The average estimate of analysts polled by
Thomson Reuters was for a loss of 94 cents a share in the July period on sales of $1.46 billion.
The NOOK business, though, was a bright spot with revenue soaring 140% year-over-year to $277 million on a comparable sales basis. This business includes sales of digital content, hardware and related accessories. Sales at BN.com jumped 37% year-over-year to $198 million, driven by strength in demand for the NOOK and related digital content."Our strategy of growing market share in the exploding digital content business while maximizing cash flow and EBITDA from our retail operations is paying off," said William Lynch, the company's CEO, in a statement. "We plan to continue investing in the significant growth areas of our business, and in fiscal 2012, we expect to see leverage as our digital sales growth is projected to exceed the growth of investment spend." For fiscal 2012, Barnes & Noble said it sees EBITDA
>To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: firstname.lastname@example.org
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts