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Why Barnes & Noble (BKS) Is Up Today

NEW YORK (TheStreet) -- Barnes & Noble (BKS - Get Report) was gaining 3.1% to $18.27 Wednesday after beating analysts' earnings estimates in its fiscal third quarter results.

The book store chain posted earnings of 86 cents a share, beating the Capital IQ Consensus Estimate of 60 cents. Revenue rose 10.3% from the year-ago period to $2 billion, compared to estimates of $2.01 billion.

Revenue for the company's Retail segment decreased 6.3% from the year-ago period to $1.4 billion in the quarter. The decrease is partly due to a comparable store sales decline of 4.9% in the quarter, store closures, and low online sales.

The College segment's revenue decreased 6% to $486 million in the quarter, and comparable College store sales decreased 4%.

Looking forward to the full fiscal year Barnes & Noble expects Retail comparable store sales to decline in the high single digits and College comparable store to decline by low single digits.

Must read: Don't Read Into Barnes & Noble's New Deal

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BKS ChartBKS data by YCharts

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