Earnings and Losses

Barnes & Noble finances released: saved by NOOK

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In Brief...

Barnes & Noble has announced its latest quarterly financial results, and the retailer has its digital arm to thank for its 1-percent year-on-year sales growth. The popularity of digital devices and content - together with other recently expanded departments, such as Toys & Games which saw a 42-percent sales increase - has left Barnes & Noble confident about predicting $170m to $205m EBITDA for the full year. Barnes & Noble comparable store sales decreased by 3.3% and College's comparable store sales decreased by 1.5%.. At the end of the second quarter, Barnes & Noble launched NOOKcolor, the first Reader's Tablet that enables customers to purchase interactive digital content on a full color touchscreen. ? Orders for NOOKcolor significantly exceeded the company's expectations, and since going on sale on November 16, 2010, it has become the single bestselling product at Barnes & Noble.. ?Since launching our eBookstore in the second half of last year, Barnes & Noble has quickly captured approximately 20% of the exploding eBook market. We have plans to grow our share well beyond 20%, and the early success of NOOKcolor is encouraging,? said William Lynch, chief executive officer of Barnes & Noble, Inc. ?Selling digital content is becoming a big business for us that we expect to grow at exciting rates. Barnes & Noble comparable store sales are expected to increase between 5% and 7% for the third quarter, and to be in a range of flat to 3% for the full year. A conference call with Barnes & Noble, Inc.'s senior management will be webcast beginning at 10:00 A.M. ET on Tuesday, November 30, 2010, and is accessible at www.barnesandnobleinc.com/webcasts.. Barnes & Noble, Inc. will report holiday sales on or about January 6, 2011..

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