Ongoing cost reductions helped the nation's largest bookstore retailer narrow its loss in its fourth quarter even as its sales continued to slide.
Barnes & Noble posted a net loss of $13.4 million for the quarter, compared to a loss of $30.6 million in the prior year. For the quarter, the company's retail division generated an operating loss of $15.9 million, while Nook incurred an operating loss of $7.9 million, for a total operating loss of $23.8 million.
Total sales fell 6.3% to $821 million for the quarter, ended April 29. Same-store sales declined 6.3%. Online sales increased 2.9%.. . . more