Barnes & Noble Reports Holiday Sales Results
Core Comparable Sales Increase of 1.6% Marks Second Consecutive Holiday Increase
Company Reiterates Full-Year Outlook
New York, NY (January 7, 2016)—Barnes & Noble, Inc. (NYSE: BKS) today reported sales for the nine-week holiday period ending January 2, 2016. Core comparable store sales, which exclude NOOK products, increased 1.6%, marking the second consecutive holiday increase.
“We are pleased with the performance of our bookstores during the holiday period, with core comparable store sales increasing 1.6% on top of a 1.7% increase a year ago,” said Ron Boire, Chief Executive Officer of Barnes & Noble, Inc. “We were also encouraged by the improved performance of BN.com during December, as the site remained stable and traffic improved through the holiday period. As we look ahead, we see further opportunities to improve the experience and increase conversion on BN.com.”
Retail sales, which include Barnes & Noble stores and BN.com, were $1.1 billion, decreasing 0.8% due to lower online sales and store closures. Comparable store sales, including NOOK products, increased 0.6% for the holiday period.
NOOK sales of $41.2 million decreased 25.8%. Digital content sales were $21.3 million and device and accessory sales were $19.9 million for the holiday period.
Based on the holiday sales results, the Company continues to expect fiscal 2016 core comparable store sales to increase approximately 1%, and comparable store sales to be approximately flat. The Company also continues to expect full fiscal year EBITDA losses in the NOOK segment to decline versus the prior year.
Barnes & Noble, Inc. will report third quarter results on or about March 3, 2016.
About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS) is a Fortune 500 company, the nation’s largest retail bookseller, and a leading retailer of content, digital media and educational products. The Company operates 640 Barnes & Noble bookstores in 50 states, and one of the Web’s premier e-commerce sites, BN.com (www.bn.com). The NOOK Digital business offers a lineup of popular NOOK (www.nook.com) and UK® tablets and eReaders and an expansive collection of digital reading and entertainment content through the NOOK Store®. The NOOK Store features more than 4 million digital books in the US plus periodicals, comics, apps, movies and TV shows, and offers the ability to enjoy content across a wide array of popular devices through Free NOOK Reading Apps™ available for Android™, iOS® and Windows®.
General information on Barnes & Noble, Inc. can be obtained by visiting the Company’s corporate website at www.barnesandnobleinc.com.