Barnes & Noble 1Q Loss Narrower than Expected

Retail Associated Press

Barnes & Noble Inc. (BKS) on Tuesday reported a loss of $28.4 million in its fiscal first quarter.

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The New York-based company said it had a loss of 56 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of 68 cents per share.

The bookseller posted revenue of $1.24 billion in the period.

Barnes & Noble shares have climbed 57 percent since the beginning of the year. The stock has climbed 74 percent in the last 12 months.