Barnes & Noble adjusts fiscal 2010 outlook

New York City Barnes & Noble said on Thursday it expects lower same-store sales for its current quarter and full year after adjusting its financial reporting period to reflect a recent acquisition.

Barnes & Noble said on Sept. 30 it would change its fiscal year following its purchase of College Booksellers to align its results with that business.

Barnes & Noble is currently in its second quarter, from Aug. 2 to Oct. 31, and expects same-store sales to drop 1% to 3% for the period. For its new fiscal year 2010, from May 3, 2009 to May 1, 2010, it expects same-store sales to fall between 2% to 4%.