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10.01.2019 14:38:25
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Barnes & Noble 9-week Holiday Period Comps. Up 1.3%; To Reduce Earnings Outlook
(RTTNews) - 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.
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