- Wal-Mart names new CEO; company vet Doug McMillon to succeed Mike Duke
- Toys ‘R’ Us moves interim CEO into role permanently; names new U.S. president
- Top 50 Global Retailers
- D.C. Council upholds mayor's veto of 'living wage' bill
- Wal-Mart doubles small-store expansion amid weak sales and lowered outlook
New York City -- Barnes & Noble reported Tuesday that its loss for the quarter ended April 30 widened to $59.4 million, from a loss of $32 million in the year-ago period. The book seller said its results were hurt by liquidation sales by bankrupt Borders, as well as impacted by ongoing investment in the Nook.
Revenue rose 4% to $1.37 billion from $1.32 billion in the prior year, missing Wall Street’s estimate of $1.39 billion in revenue.
Same-store sales dropped 2.9%.
Other Barnes & Noble sectors fared better, as online revenue surged 54% to $217.3 million and college bookstore revenue rose 4% to $211.2 million.
For the full year, the retailer reported a loss of $73.9 million, compared with a profit of $36.7 million last year. Revenue rose 21% to $7 billion.
Barnes & Noble said it is still reviewing the unexpected $1 billion takeover in May from John Malone's Liberty Media.