Barnes & Noble.com’s sales up 3.4% in year just finished
Gross sales at Barnes & Noble.com for 2003 were up 3.4% over 2002 to $437.2 million, the company reported recently. Gross sales represent the total value of merchandise sold at bn.com, including the value of used and out-of-print books for which Barnes & Noble.com receives a commission. Net sales for the year were $424.8 million.
Fourth quarter 2003 gross sales were $138.4 million, up 8.2% over Q4 2002. Net sales were $133.4 million, a 4.3% increase over Q4 2002.
Fourth quarter gross margin was 24.5%, up from 21.6% in the fourth quarter of 2002. Full year gross margin increased to 24.5% from 22.6% in 2002. The company says the gross margin improvement resulted from increased efficiencies realized from internal fulfillment operations, a change in the model for selling used and out-of-print books, as well as less promotional activity during the holiday season.
Total operating expenses decreased 10.9% quarter over quarter and 12.5% year over year. Operating expenses decreased to 28.7% of net sales in fourth quarter 2003 from 33.5% in fourth quarter 2002 and decreased to 35.2% for full-year 2003 from 40.4% for full-year 2002.
Net loss for the fourth quarter was $5.5 million, a 63.2% improvement from a net loss of $15 million for the fourth quarter of 2002. Full-year 2003 net loss was $45 million, a 38.9% improvement from full-year 2002 results.
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