Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Barnes & Noble today reported that online sales dipped 0.6% year-over-year to $91.4 million for the first quarter ended April 30, as online sales fell to 8.3% of total sales from 8.6%.
Barnes & Noble today reported that online sales dipped 0.6% to $91.4 million for the first quarter ended April 30, down from $90.6 million in the year-ago quarter, as online sales fell to 8.3% of total sales from 8.6%.
By comparison, total Q1 sales were $1.097 billion, up 4% from $1.058 billion a year ago. Comp store sales rose 2.2%. Net earnings from continuing operations were $9.9 million in the first quarter, up 37% from $7.3 million a year earlier.
The company says it expects sales at Barnes & Noble.com to increase in the mid-single digits for the second quarter and about 3% for the full year, in line with expected comp store sales.
As of April 30, the company operated 671 Barnes & Noble stores and 150 B. Dalton stores. During the first quarter, seven Barnes & Noble stores were opened and two were closed. B. Dalton closed four stores during the quarter.