Barnes Noble Inc
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Barnes & Noble Inc., the nation’s largest bookseller, announced a 13% profit decline in its fiscal first quarter but forecast second-quarter results above Wall Street expectations because of the expected arrival of the sixth “Harry Potter” book in July.
For the three months ended April 30, Barnes & Noble had net income of $9.9 million, or 13 cents a share, down from $11.4 million, or 16 cents, a year earlier.
New York-based Barnes & Noble had predicted earnings of 11 cents to 13 cents a share, and analysts surveyed by Thomson First Call were looking for profit at the low end of this guidance.
The company’s earnings from continuing operations -- which exclude year-earlier income from its now spun-off GameStop business -- rose 37%.
The company said sales at stores open at least a year rose 2.2% for the period.
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