Why Barnes & Noble (BKS) Is Up Today

NEW YORK (TheStreet) -- Barnes & Noble (BKS) 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

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

BKS ChartBKS data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Hurricane Irma, a Debt Deal and Disney Cause Wall Street Waves

Hurricane Irma Bears Down on Equities and Disney Slide Hits Dow

Hurricane Irma Prep, Harvey Recovery Set Wall Street on Edge

Hurricane Irma, Trump and ECB - 5 Things You Must Know Before the Market Opens

Congress Is Back in Session and Tax Reform Is Top of Mind - Week Ahead