Barnes & Noble Revenues $1.4B in Q3, Down 1.8%

By Dianna Dilworth 

Barnes & Noble’s Q3 2016 earnings were $1.4 billion, a decrease of 1.8 percent from the comparable quarter last year.

Retail sales, which includes both Barnes & Noble stores and, were $1.4 billion, a 1.2 percent drop which the company attributed to lower online sales and store closures. Nook sales were $51.7 million during the period, which ended January 30, 2016, a 33.3 percent decrease which the company said was “due primarily to lower device and content sales.”

“We are pleased with our bookstore sales performance and the reduction of Nook losses during the fiscal third quarter,” stated Ron Boire, Barnes & Noble CEO.  “Our Retail Core comparable store sales exhibited year-on-year growth, increasing 1.3% on top of a 1.7% increase a year ago, led by the continued strength of adult coloring books, as well as our toys & games, music and gift businesses.  We are encouraged by the improved bookstore sales trends that are enabling us to close the least amount of stores since fiscal 2000 and are excited to introduce our new store concept later this year, with the opening of four new stores throughout fiscal 2017.”

The company expects comparable store sales to stay flat for the rest of fiscal 2016.