Barnes & Noble 4Q Profit Drops
New York Barnes & Noble reported a 9% decline in fourth-quarter profits Thursday amid a challenging retail environment.
Barnes & Noble said that it earned $115.04 million in the three-month period ended Feb. 2, compared with $126.73 million in the year-ago period.
The company says that sales slipped to $1.85 billion in the period, from $1.88 billion in the year-ago period. Same-store sales fell 0.5% in the fourth quarter.
For the year, Barnes & Noble earnings slipped to $135.8 million compared to $150.53 million in the year-ago period. Sales reached $5.4 billion, from $5.26 billion in the previous year.