MAIN NEWS HEADLINES
January 11 – 18, 2007 Edition
Barnes & Noble 06
Holiday Sales Growth
Down From 2005
New York, NY/1/8/07—Barnes & Noble, Inc. (NYSE: BKS), the world’s largest bookseller, on January 4 reported slower holiday sales than expected increases for 2006. Sales for the nine-week holiday period from October 29, 2006 to December 30, 2006 were 2.6%—exactly half of the 5.2% growth seen for the comparable period in 2005.
Barnes & Noble store sales were $1.1 billion, a 2.6% increase over the same period in fiscal 2005. Comparable store sales decreased 0.1%, slightly lower than guidance for a flat to low single digit increase. For the 48 weeks ended December 30, 2006, Barnes & Noble store sales rose 2.4% to $4.1 billion, while comparable store sales declined 0.3%.
For the same periods just a year ago, store sales had grown 5.4% and comparable store sales had increased 2.6%.
In the 2006 holiday report, B. Dalton sales were $28.4 million, a decline of 31.3% from the same period in fiscal 2005, primarily due to the closing of 32 stores over the past 12 months. Comparable store sales decreased 7.6%. For the 48 weeks ended December 30, 2006, B. Dalton sales decreased 29.1% to $94.1 million, with comparable store sales decreasing 6.0%.
Barnes & Noble.com comparable sales increased 2.7% for the holiday selling season and totaled $108.5 million. For the 48 weeks ended December 30, 2006, Barnes & Noble.com sales were $376.4 million, representing a comparable sales decrease of 2.4% from the same period in fiscal 2005.
“Despite somewhat disappointing sales for the season in a highly promotional and competitive environment, the company expects to be in the low to middle range of its earnings per share guidance based upon post-holiday sales to date,” said Steve Riggio, chief executive officer of Barnes & Noble, Inc. The company’s previously announced earnings per share guidance for the fourth quarter and full year is $1.86 to $1.96 and $2.20 to $2.30, respectively.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS), the world’s largest bookseller and a Fortune 500 company, operates 801 bookstores in 50 states. Barnes & Noble conducts its online business through Barnes & Noble.com (www.bn.com), one of the Web’s largest e-commerce sites.