Barnes & Noble.com’s Q1 net sales rise 8% as net loss narrows
Barnes & Noble.com’s first-quarter net sales rose 8.4% year-over-year to $114.9 million from $106 million, as its net loss narrowed 26% to $9.8 million from $13.1 million, the company reported today.
Total Q1 operating expenses decreased 4.7% year-over-year, to $37.4 million from $39.3 million, and they declined as a percentage of net sales to 32.6% from 37.1%.
The retailer said it expects its full-year 2004 net sales to range from $435 million to $475 million, reflecting a rise of 3-12% from last year’s net sales of $422.8 million. “We enter the second quarter well positioned to reach our target of full-year EBITDA profitability,” said CEO Marie Toulantis.
Barnes & Noble.com, which operates on the web at BarnesandNoble.com, said it expects to file a definitive proxy statement with the Securities and Exchange Commission by May 3 regarding its proposed merger with a subsidiary of book store retail chain Barnes & Noble Inc., which now owns about 73% of Barnes & Noble.com.
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