Barnes & Noble's 2Q Profit Falls 15%

New York City Barnes & Noble Inc. is reporting a 15% decline in second-quarter profit and is reducing its full-year sales outlook at established stores as it confronts a sluggish economic environment.

The company said Thursday it earned $15.4 million in the three-month period ended Aug. 2. That compares with $18.1 million in the year-ago period.

Barnes & Noble said sales slipped 1.6% to $1.22 billion from $1.24 billion in the year-ago period.

Meanwhile, same-store sales fell 4.7% in the period.