Summary Box: Barnes & Noble 3Q net income falls

AP News
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Posted: Feb 21, 2012 12:43 PM
Summary Box: Barnes & Noble 3Q net income falls

THE NEWS: Barnes & Noble said Tuesday that its fiscal third-quarter net income fell 14 percent, as rising costs offset higher sales. Revenue rose 5 percent to $2.44 billion.

THE CONTEXT: Barnes & Noble benefited from the liquidation of its closest competitor, Borders, last year, along with more people buying toys, traditional books and games and puzzles in its brick-and-mortar stores. The bookseller has been investing heavily in its Nook e-book reader.

WHAT'S NEXT: Barnes & Noble expects a yearly loss of $1.40 to $1.10 per share on sales of $7 billion to $7.2 billion.