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.
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