Earnings Inch Up at B&N

Net income at Barnes & Noble rose 2.7% in the fiscal year ended February 3, to $150.8 million. Total sales at the country's largest bookstore chain rose 3.1%, to $5.26 billion. Revenue totals benefited from an extra week in the most current fiscal year. Sales were driven by gains in superstores, although same-store sales were off 0.3% for the year in the division. Revenue was also up in the "other" segment, which includes publishing and Calendar Club operations. An accounting change was responsible for the decline in B&N.com revenue. The company changed the way it records sales of used textbooks to reflect just commissions. Earlier this year, B&N said it expected comp-store sales in its superstores to be flat to slightly positive in 2007 (Foreword, Mar. 12).