Barnes & Noble reduced its loss in its first quarter due to cost savings even as its sales continued to fall.
The company reported a net loss of $10.8 million for the quarter ended July 29, compared to a loss of $14.4 million for the year-ago period.
Total sales fell 6.6% to $853 million, compared to analysts' forecasts for $873 million. Same- store sales decreased 4.9%, as declines in non-book categories outpaced improved book trends during the quarter.. . . more