Barnes & Noble Plunges After Worst Holiday Quarter in Decade
- Bookstore chain’s same-store sales tumbled 8.3% in the period
- Company now expects a decline of 7% for the full year
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Barnes & Noble Inc. investors were bracing for weak results over the holidays. What they got was worse.
The bookstore chain posted profit of 96 cents last quarter, well below the $1.13 analysts estimated. And same-store sales -- a closely watched benchmark -- plunged 8.3 percent. That was the biggest holiday-quarter decline since 2005.