Barnes & Noble 2Q sales down 1.6%

NEW YORK Barnes & Noble reported that sales for the second quarter decreased 1.6% to $1.2 billion. Barnes & Noble store sales decreased 1.6% to $1.1 billion, with comparable-store sales decreasing 4.7% for the quarter. Barnes & Noble.com sales were $99.8 million for the quarter, a 3.6% comparable sales increase.

Second quarter net earnings were $15.4 million or 27 cents per share.

For the third quarter, the company expects comparable-store sales at Barnes & Noble stores to decline in the low single digits. Barnes & Noble Inc.’s third quarter loss per share is expected to be in a range of 10 cents to 15 cents.

Based on first-half 2008 sales performance and current trends, the company is reducing its full-year comparable store sales guidance from slightly negative to a decrease in the low single digits. Although the company is reducing full-year sales guidance, the company is reiterating full-year earnings per share guidance to be in a range of $1.70 to $1.90.