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    Categories: Bookstores

Barnes & Noble losses: Blame it on Harry Potter

From CNN:

The bookstore chain said sales fell 8% and losses soared. The reason: There was no new Harry Potter installment this year. “Harry Potter and The Cursed Child” hit stores during the same period last year.

The company said it expects sales will be flat over the final six months of its current fiscal year. But that forecast did little to assure investors, as the stock fell 10% in early trading following the report, leaving shares down 37% so far this year.

. . . .

[T]he company has been reporting more annual losses than profits in recent years, and has lost a total of $345 million since early 2010.

Link to the rest at CNN

PG :