August 20, 2009, 12:00 AM

Second quarter web sales rise slightly for Barnes & Noble

E-commerce sales grew 2.2% for Barnes & Noble Inc. in Q2. Total revenue and comparable-store sales declined by 5.7% and 6.9%, respectively.

Katie Evans

Managing Editor, International Research

E-commerce sales grew modestly for Barnes & Noble Inc. in the second quarter.

In the quarter ended Aug.1, Barnes & Noble, No. 41 in the Internet Retailer Top 500 Guide, reported:

  • Q2 web sales of $102 million, an increase of 2.2% from $99.8 million in the second quarter of 2008.
  • Total sales decreased year over year 5.7% to $1.15 billion from $1.22 billion.
  • Comparable-store sales declined 6.9%.
  • The web accounted for 8.9% of total sales compared with 8.2% in the prior year.
  • Net income declined year over year 20.1% to $12.3 million from $15.4 million.
“While the decline in retail traffic continues to be the principal impediment to our top line, we do offer our customers the ability to shop with us online, where sales were slightly above last year," says Barnes & Noble CEO Steve Riggio.

For the first six months of the year:

  • E-commerce revenue decreased 2.2% to $195 million from $199.4 million.
  • Total revenue declined year over year 4.6% to $2.26 billion from $2.37 billion.
  • Net income declined 28% to $9.5 million from $13.2 million.
In the second quarter, Barnes & Noble also acquired Barnes & Noble College Booksellers Inc. for $596 million. It will use the newly acquired company to add a new dynamic to its e-commerce base and budding digital books business, the retailer says. Barnes & Noble expects the deal to close around Oct. 1.

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