B&N expects sales to continue to decline

NEW YORK, N.Y. Barnes & Noble provided September sales and announced guidance for its new 2010 second quarter and fiscal year.

Barnes & Noble store sales for the nine weeks ended Oct. 3 decreased 3% to $665 million, as compared with the prior-year period . Barnes & Noble comparable-store sales decreased 4.1% for the nine-week period. Barnes & Noble.com sales were $91 million, an 8% increase compared with the prior year period.

Total sales for the nine weeks ended Oct. 3 were $770 million, an increase of 2% as compared with the prior year period. Comparable-store sales decreased 0.7% for the nine week period.

For the full fiscal 2010 second quarter ending Oct. 31, the company continues to expect comparable-store sales at Barnes & Noble retail stores to decline 1% to 3%. For the new fiscal year 2010, the company expects Barnes & Noble comparable-store sales to decrease 2% to 4%.

Barnes & Noble expects its second quarter 2010 loss per share to be in the range of 45 cents to 55 cents, which includes one-time transaction expenses, as well as higher interest expense and the impact of purchase accounting.