Barnes & Noble (BKS) Misses Q3 EPS by 2c; Core Comps Rose 1.3%

Barnes & Noble (NYSE: BKS) reported Q3 EPS of $1.04, $0.02 worse than the analyst estimate of $1.06. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.42 billion.

Core comparable store sales increased 1.3% for the quarter.

NOOK sales of $51.7 million decreased 33.3% due primarily to lower device and content sales. NOOK EBITDA losses of $11.2 million declined $17.9 million versus the prior year as the company continues to focus on cost rationalization efforts.

Outlook

For fiscal year 2016, the company continues to expect comparable store sales to be approximately flat with the prior year. Excluding NOOK products, Core comparable store sales are expected to increase approximately 1%. The company also expects full fiscal year EBITDA losses in the NOOK segment to decline versus the prior year.

For earnings history and earnings-related data on Barnes & Noble (BKS) click here.

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