Barnes & Noble Looks for a Sales Rebound
Total revenue dropped 4% in the quarter ended October 29 at Barnes & Noble, compared to the similar period a year ago. Although revenue declined 19.5% in the company’s Nook division, in the conference call with analysts to discuss the results, the focus was on the 3.5% decline in B&N’s retail segment.
Chairman and CEO Len Riggio said that the company was not happy with the 3.2% decline in comparable store sales in the period, which was the biggest factor in the retail sales drop. Comp store sales of books fell 3% in the quarter, due in part to lower sales of adult coloring books.