Barnes & Noble Posts Quarterly Gain, and Nook Looks Strong
"Nook began shipping only in the middle of the third quarter, and, as evident in our sales, we are thrilled with how customers have embraced our product and our digital eBook platform," CEO Steve Riggio said in the statement. "In addition to the accelerating online sales trends, nook sales have been strong at our bookstores since the product became available earlier this month."
Looking ahead, B&N expects full-year earnings to be somewhere between 23 cents and 53 cents a share, below analysts' consensus expectation of 58 cents a share. BN comparable-store sales (sales at stores open a year or more) are also expected to keep declining between 2% and 4% in the fourth quarter.