logo
Plus   Neg
Share
Email

Barnes & Noble 9-week Holiday Period Comps. Up 1.3%; To Reduce Earnings Outlook

Barnes & Noble, Inc. (BKS) reported comparable store sales increased 4.0% between Black Friday and New Year's Day and 1.3% for the nine-week holiday period ending December 29, 2018. Also, the company said that due to the increased advertising expenditure and increased promotional activity, earnings guidance may be reduced by as much as 10%.

"Although we got off to a slow start, sales picked up momentum as we moved deeper into the season, and we finished strongly in accordance with our expectations," said Len Riggio, Chairman of Barnes & Noble, Inc.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Google CEO Sundar Pichai announced Monday a $10 billion Google for India Digitization Fund to help accelerate India's digital economy. The investment is planned over the next five to seven years through equity investments, partnerships, and operational, infrastructure and ecosystem investments. Logistics solutions provider Hi-Crush Inc. (HCR) announced Monday that it has voluntarily filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Hi-Crush has also entered into a Restructuring Support Agreement... Analog Devices, Inc. (ADI) and Maxim Integrated Products, Inc. (MXIM) announced Monday that they have entered into a definitive agreement under which ADI will acquire Maxim in an all stock transaction that values the combined enterprise at over $68 billion. The transaction, which was unanimously approved...
Follow RTT