Barnes & Noble expects 1Q loss

NEW YORK Barnes & Noble reported that store sales were $1.44 billion for the fourth quarter and $4.52 billion for the full year. Barnes & Noble store sales decreased 4.8% for the quarter and 2.7% for the full year as compared to fiscal 2007. Comparable-store sales decreased 7.3% for the quarter and 5.4% for the year, in-line with guidance.

Barnes & Noble.com sales were $157 million for the quarter and $466 million for the full year. Barnes & Noble.com comparable sales decreased 10.4% for the quarter and 1.3% for the full year as compared to the same periods in fiscal 2007.

Consolidated sales decreased 6% to $1.632 billion for the quarter and decreased 3% to $5.12 billion for the full year, as compared to the prior year periods.

Net earnings were $81.2 million, or $1.46 per share for the fourth quarter, and $75.9 million, or $1.32 per share for the full year.

Based on current trends, the company expects first quarter comparable-store sales at Barnes & Noble stores to decrease in a range of 6% to 9%, and full-year comparable-store sales to decrease in a range of 4% to 6%.

Barnes & Noble's first quarter loss is expected to range from 10 cents to 20 cents per share. Full-year earnings per share are expected to range from 95 cents to $1.25.