Barnes & Noble stock is down by 0.68% to $8.77 in pre-market trading on Thursday, after the company reported its holiday sales results.
The New York City-based book and digital media retailer reported that comparable store sales rose by 1.6% during the nine-week period ending on January 2, which excludes NOOK product sales.
Including NOOK product sales, comparable store sales rose by 0.6% during the holiday period. NOOK sales dropped by 25.8% to $41.2 million.
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Retail sales at Barnes & Noble stores and the company’s website, BN.com, declined by 0.8% to $1.1 billion, due to lower online sales and store closures, the company added.
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The gross profit margin for BARNES & NOBLE INC is currently lower than what is desirable, coming in at 30.16%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of -4.38% is significantly below that of the industry average.
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