Results in line. The real news will be made on the conference call in a few minutes.
Barnes and Nobel (BKS) reported sales for Q1 increased 1.1% to $1.2 billion. Barnes & Noble store sales increased 1.1% to $1.0 billion, with comparable store sales decreasing 1.5% for the quarter, marginally below guidance for slightly negative comparable store sales. Barnes & Noble.com comparable sales were $99.6 million for the quarter, a 7.2% increase compared to the prior year period.
In Q1,the company acquired 6.5 million shares under its share repurchase program at an average price of $30.57 per share or $199.7 million in total.
Although the company lowered its sales forecast, it continues to expect full-year EPS to be in a range of $1.70 to $1.90 based on a reduced fully diluted share count of 58.5 million shares as a result of the share repurchase activity noted above. Second quarter earnings per share are expected to be in a range of $0.08 to $0.13.
I will comment on the earnings call later
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