Barnes & Noble Reports Slight Dip in Sept. Same-Store Sales; Game Sales Up 12.8%9 Oct, 2001 By: Hive News
Leading bookseller Barnes & Noble Inc. reported comparable store sales for September decreased 1.1% from the prior year.
For the quarter to date, comparable store sales are up 0.6% from last year. Based upon trends to date, the company expects comparable sales for the quarter ended Nov. 3 to be in the range of flat to plus 1%.
Comparable sales at B. Dalton, which comprises 8% of total sales are running at 4.4% quarter to date.
Video game comparable sales for September were up 12.80rom the prior year, and for the quarter to date were up 19.9%.
The company says comparable sales are expected to decline in October due to the launch of PlayStation 2 in October 2000. Based on trends, the company expects video game comparable sales to be up 3% to 4% for the quarter ended Nov. 3.
Earnings guidance for the quarter ending Nov. 3, 2001 will not change significantly, the company claimed, since the expected shortfall in bookstore earnings of $0.04 to $0.05 per share will be partially offset by a gain in video game earnings of $0.02 to $0.03.
"Guidance for the important fourth quarter remains unchanged while the company monitors current trends and the impact of recent events on future sales and earnings. While some optimism remains, the next 30 days should provide more visibility," the company said in a press release.
"Although we are somewhat disappointed by the current trends, we are pleased to note that bookstore sales continue to significantly outperform other specialty retailers and the retail segment in general."
Barnes & Noble Inc. operates 569 Barnes & Noble and 331 B. Dalton bookstores, and 990 GameStop (formerly Babbage's stores.