Barnes & Noble 4Q Profits Down
New York City, Barnes & Noble, Inc. reported earnings of $115.6 million, or $1.56 per share, for the three months ended Jan. 29, compared with $130.2 million, or $1.65 per share, in the year-ago period. The 11% decline in fourth-quarter profits was influenced by the spin-off of its GameStop division. Sales for the fourth-quarter were $1.67 billion, compared with $1.59 billion in the same period a year ago. Store sales increased 5% to $1.4 billion for the quarter, while comp-store sales rose 1.7%. The bookseller opened 32 new stores and closed 13 branches during the year, ending with 666 stores.
Sales for the B. Dalton division, which comprise about 4% of total bookstore sales, were $60.9 million for the quarter, which is a 24% decrease over the year-ago period. B. Dalton comp-store sales declined 3.2% for the fourth quarter.
For the fiscal year, earnings were $143 million, or $1.93 per share, vs. $151.8 million, or $2.07 per share, a year ago. Total sales for the year were $4.78 billion, up from $4.37 billion a year ago.