BarnesandNoble.com’s sales grew 4.5% last year
Sales at BarnesandNoble.com last year grew 4.5% to $422.8 million, Barnes & Noble Inc. reported today. The online operation, of which Barnes & Noble owns 37%, lost $72.4 million last year. Operating expenses decreased 50% over the prior year, Barnes & Noble says.
In the fourth quarter, the online operation’s sales grew 11.2% vs. Q4 a year earlier and lost $15.1 million. Operating expenses in the quarter fell 72%. The decreases in operating costs were the result of efficiency improvements, more productivity, cost control measures and the absence of impairment and special charges that the online operation took a year earlier, the company says.
Barnes & Noble says it expect first quarter online sales to be $105 million to $115 million with full year sales of $430 million to $470 million.
Sales at Barnes & Noble bookstores grew 6.4% for the year to $3.6 billion. Comparable store sales were flat for the year. At B. Dalton bookstores, sales were down 16.2% due to the closing of 47 stores, while comparable store sales were down 6.4%.
Companywide earnings for the year increased 50% to $99.9 million. Q4 earnings were up 32% vs. the year earlier Q4 to $111 million.
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