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BKS Gains as 4Q Beats
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ShareBarnes & Noble Inc.'s (BKS) shares are up almost 6% today with volumes that are double normal levels.
The nation's largest bookstore chain reported 4Q08 earnings of $1.67 per share, excluding items, beating the consensus estimate of $1.48.
Same-store sales declined 7.3% in the quarter as consumers cut back on discretionary spending during the crucial holiday season. Through the quarter, BKS opened 5 stores and shut 7 of its namesake and 19 B. Dalton stores.
The retailer expects full fiscal 2009 earnings to range between 95 cents and $1.25 amid a challenging environment, which is in-line with the consensus estimate of $1.14.
BKS is currently a Zacks #3 Rank ("Hold") stock.
Read the full analyst report on BKS
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