Barnes & Noble ( BKS) widened its first-quarter loss, citing the weak retail environment.

The company reported a loss of $2 million, or 3 cents a share, compared with a loss of $1.4 million, or 2 cents a share, a year ago. Last year's earnings include an impairment charge of 23 cents a share. Analysts were expecting the company to lose 9 cents a share.

Results include the company's majority stakes in video game retailer GameStop ( GME) and its online outfit Barnes&Noble.com ( BNBN). Excluding the two units, the company lost $3.2 million, or 5 cents a share.

Consolidated revenue was $1.2 billion, matching analysts' estimates and up slightly from last year's $1.1 billion.

"An improvement in April sales enabled us to outperform our revised guidance, in spite of the difficulties all retailers experienced in the first quarter," said Steve Riggio, chief executive of Barnes & Noble. He added, "We remain cautious about sales trends for the balance of the year, due to the current uncertain retail climate."

In the second quarter, consolidated earnings are expected to be 9 cents to 15 cents a share. Analysts expect 12 cents a share. For the full year, the company expects to earn $1.87 to $1.95 a share. Analysts expect $1.88 a share. The company earned $1.58 a share last year.

Shares of New York-based Barnes & Noble were up 0.8% at $20.36 Thursday in morning trading.

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