Barnes & Noble Sees 55% Rise in Q2 Profit
New York City, Barnes & Noble Inc.’s quarterly profit rose 55%. The company attributes some of its success to sales of the new Harry Potter book, Harry Potter and the Half-Blood Prince, saying the popular book increased customer traffic both in stores and on line.
Second-quarter net income for the bookseller increased to $13.5 million, or 18? per share. Last year, net income was $8.7 million, or 12? per share.
Barnes & Noble’s numbers differ greatly from those of its rival, Borders Group Inc. That bookseller also benefited from the Harry Potter book, but had decreased profit due to weak total sales in the U.K. and store remodeling.