Barnes and Noble Reduces Outlook (BKS)
January 07, 2010 3:43 PM
After posting lower than expected sales returns, Barnes and Noble (NYSE: BKS) has announced that they will be lowering guidance for their third quarter returns from a range of $1.30 to $1.50 a share down to $1.20 to $1.40 a share.
Their holiday store sales declined 5% compared to last year’s numbers in the nine week period starting from November 1, 2009 to January 2, 2010. However, online sales did go up 17% in the holiday season, reaching $134 million. These sales include the revenue generated through the new Nook Electronic Book Reading Device that began shipping after Thanksgiving.
Barnes and Noble is scheduled to release it's Fiscal Year 2010 Third Quarter Earnings Report on February 3, 2010. Barnes and Noble went down 2.81% to $18.61 a share.
