Both revenues and profits were down at Barnes & Noble in the first quarter, according to a company filing with the SEC.
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[Press Release]
Barnes & Noble Reports Fiscal 2014 First Quarter Financial Results
Confirms Commitment to NOOK® Device and Content Business
New NOOK Products Planned
Company Financial Position Remains Solid
Company Receives Withdrawal Notice from Chairman Regarding Schedule 13D filing
Barnes & Noble, Inc. (NYSE: BKS) today reported sales and earnings for its fiscal 2014 first quarter ended July 27, 2013.
First quarter consolidated revenues decreased 8.5%, to $1.3 billion, compared to the prior year. The first quarter consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) loss was $8.9 million, compared to positive EBITDA of $5.8 million a year ago.
Retail
The Retail segment, which consists of the Barnes & Noble bookstores and BN.com businesses, had revenues of $1.0 billion for the quarter, a decrease of 9.9% from the prior year. The sales decrease was attributable to a comparable store sales decrease of 9.1% for the quarter, store closures and lower online sales, in line with company expectations. First quarter comparable bookstore sales decreased, reflecting lower NOOK device unit volume and a title lineup last year that included unusually strong sales from The Hunger Games and Fifty …read more

Via: Digital Book World