Barnes & Noble Comparable Sales Improve; Shares Rise
U.S. bookstore chain Barnes & Noble Inc (BKS.N) reported a smaller-than-expected fall in quarterly same-store sales as promotions and new products drove up traffic at its stores.
Shares of Barnes & Noble, which also reported a smaller-than-expected loss, rose as much as 4.3 percent to a two-year high of $24.40 in early trading.
Barnes & Noble's retail core comparable store sales, excluding its Nook digital unit and college bookstores, fell 0.4 percent in the first quarter ended Aug. 2.
Analysts polled by research firm Consensus Metrix were expecting same-store sales to decline 2 percent.
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%0D%0A%20%20Analysts%20polled%20by%20research%20firm%20Consensus%20Metrix%20were%20expecting%20same-store%20sales%20to%20decline%202%20percent.%0D%0A%0D%0A%0D%0Ahttps%3A%2F%2Fwww.bookbusinessmag.com%2Faggregatedcontent%2Fbarnes-noble-comparable-sales-improve-shares-rise%2F" target="_blank" class="email" data-post-id="11961" type="icon_link"> Email Email