Barnes & Noble 1Q Sales Fall

Reuters

Barnes & Noble, the largest U.S. bookstore chain, reported a decline in sales for the fifth consecutive quarter, hurt by store closures, lower online sales and weak demand for its Nook tablets.

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Stiff competition from online retailers such as Amazon.com has hurt sales at Barnes & Noble's bookstores for years and gutted demand for its Nook e-readers.

Sales at the company's retail division fell 1.7% to $939 million for the first quarter ended Aug. 1.

Sales at its Nook business, which includes digital content, devices and accessories, fell 22% to $54 million.

Barnes & Noble's retail core comparable store sales, which exclude Nook, rose 1.0%. Total comparable retail store sales rose 1.1%.

Net loss attributable to the company widened to $34.9 million, or 68 cents per share, in the first quarter from $28.4 million, or 56 cents per share, a year earlier.

(Reporting by Ramkumar Iyer in Bengaluru; Editing by Don Sebastian and Robin Paxton)