Barnes & Noble Loses $3.34M
May. 21, 1998
NEW YORK (AP) _ Barnes & Noble Inc. lost $3.34 million in the first quarter as its retail stores grew more profitable but its online stores lost money.
The bookseller reported Thursday its loss amounted to 5 cents per diluted share and compared with a loss of $3.9 million, or 6 cents per diluted share, in the same period a year earlier.
Revenue rose to $666.3 million from $595.7 million.
The results matched a consensus prediction of analysts surveyed by First Call Corp.
Sales from the company's superstores rose 14 percent, and accounted for 83 percent of its total revenue, compared with 81 percent a year earlier. Its overall retail business, which also includes smaller mall-based Barnes & Noble and B. Dalton stores, generated a $13.7 million operating profit, compared with $3.4 million a year earlier.
Its barnesandnoble.com online business had an operating loss of $13.6 million.