M2 Best Books, Jan 8, 2010
M2 BEST BOOKS-(C)2000-2010 M2 COMMUNICATIONS
Book seller Barnes & Noble, Inc. (NYSE: BKS) on Thursday reported that holiday sales for Barnes & Noble store sales were USD1.1bn for the nine-week holiday period from 1 November 2009 to 2 January 2020.
This was a 5% decrease as compared with the corresponding period of the prior year. Also, comparable store sales for the period decreased by 5.4%.
Barnes & Noble.com sales for the holiday season increased by 17% to USD134m, which include nook revenues recognized since the product began shipping after Thanksgiving.
Also, based on lower than expected holiday sales, the company said that it is reducing its third quarter earnings guidance to USD1.20 to USD1.40 per share. The company’s previous third quarter earnings guidance was EPS of USD1.30 to USD1.50.
Barnes & Noble is expected to report third quarter earnings results and discuss its outlook for the balance of fiscal year 2010 on or about 23 February 2010.