Barnes & Noble CEO Tells Wary Investors Turnarounds ‘Take Time’
- Largest U.S. retail bookseller sees improved comp sales ahead
- Chain eyeing toy opportunity as major competitor closes doors
Pedestrians walk past a Barnes & Noble Inc. store in New York in 2015.
Photographer: Michael Nagle/Bloomberg
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As the largest U.S. retail bookseller tries to enact a turnaround, some investors may be losing their patience.
Barnes & Noble Inc., which saw same-store sales drop 5.4 percent in the latest year, said it’s expecting that measure to improve this year. Double-digit declines in gifts, music and movies drove also down comparable sales in the fourth quarter ended April 28. Still, a renewed focus on toys and games -- plus a revamped gift business -- could help it pull off the comeback that Chief Executive Officer Demos Parneros has been promising.