From Seeking Alpha:
Barnes & Noble reports same-store sales fell 8.3% in FQ3 on a soft traffic trend vs. -2% expected. The retailer ran into a tough comparable from last year when an Adele album stoked sales.
. . . .
Looking ahead, the company expects FY17 same-store sales to fall 7% and EBITDA to fall in a range of $180M to $190M.
Link to the rest at Seeking Alpha
Will this company just go out of business already.
They haven’t hit the ground just yet. Riggio isn’t letting go until he finishes running it all the way down.
Maybe they ought to take a page out of the Waterstones playbook.
Actually, the mini/unbranded Waterstones looks like a masterstroke.
Not too many places can support a Wal-Mart-sized book store with its attendant overhead.
Plus B&N wants its stores in prime commercial real estate, hoping for the casual yuppie drive-by shopper. I’m still not sure that’s necessary; people who want books are generally willing to seek them out if necessary.
I know right, just get it over with. I’m tired of dealing with their moribund ebookstore.
We’re surprised why?
Neither is the “here are the toys, too bad about the books” thing.
I was recently in a B&N and saw an interesting board game. Thing is, it was $25.00 cheaper on Amazon. If you don’t need it at exactly that particular moment in time you wait and get it two days later.
But even if their game sales go up, that doesn’t help their book business in the long run.
So, I guess that restaurant thing isn’t working out?