B&N Sales Up 8% for 2003
by Staff -- Publishers Weekly, 2/23/2004
Sales at Barnes & Noble in the year ended January 31 rose 8%, to $3.9 billion, while sales in the fourth quarter rose 10%, to $1.3 billion. Sales at stores open at least a year rose 3.2% for the year and 6.4% in the fourth quarter. Momentum continued in the early part of this year: comp-store sales in January were up 7.8%.
B&N's Dalton mall stores, which account for some 5% of B&N's total bookstore sales, had sales during the year of $221 million, down 15%. Comp-store sales fell 2% during the year but rose 4.1% in the fourth quarter. During the year, B&N continued to shrink the division, closing 63 Daltons, leaving it with 195.
B&N expects its earnings per share to be at the high end of previous estimates: $2.07 per share. This amount consists of $1.75 per share from B&N; $.50 per share from the company's 65% interest in GameStop; and a loss of $.18 per share from its interest in B&N.com, which it is buying.
