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Barnes & Noble Sees Slight Drop in Profit

23 Feb, 2010 By: Chris Tribbey

Bookseller Barnes & Noble reported earnings of $80.2 million for its fiscal third quarter of 2010 (ended Jan. 30), down less than $1 million from the same fiscal period of 2009.

Total sales were up 33% during the quarter to $2.2 billion.

For the fourth fiscal quarter of 2010, the bookseller is expecting a 2% to 4% decline in store sales and expects full-year sales to decrease of 3% to 5%. The company is forecasting a fourth-quarter loss per share between 85 cents and $1.15. Full year earnings per share should fall between 23 cents and 53 cents, the company reported.

As of the end of January, the company operated 719 Barnes & Noble stores and 639 Barnes & Noble College Bookstores.

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