Goldman Sachs Maintains Sell Rating on Barnes and Noble (BKS)

Goldman Sachs maintains its Sell rating on Barnes and Noble (NYSE: BKS. In a note to clients, Goldman Sachs writes, "We see the promise of an annuity stream of digital book revenues, but note that losses have consistently exceeded expectations, suggesting that the cost of entry is quite high or that the firm is struggling to plan its spending, and that the success of the digital book business will likely deprive the bookstore of its best book customers, pressuring its fixed cost base." BKS closed yesterday at $14.02.