Barnes & Noble’s Q1 looked pretty much the way you’d exepct a book retail chain’s quarter to look these days: Thoroughly underwhelming. And that’s what the Street expected:
Revenue: $1.2 billion, up 1.1% vs. $1.17 consensus
EPS (adjusted): 5 cents, which was at the low end of guidance; matches Street expectations
Same-store sales: Down 1.5%
Barnes & Noble.com sales: $99.6 million, up 7.2% y/y
Meanwhile speculation continues that Barnes & Noble wants to buy Borders, which makes a bit of sense: There’d be some obvious savings by consolidating back-end operations and dumping duplicative real estate, and the merged company would have that much buying power. The question that BKS investors have to ask themselves: Do they want to be in any brick-and-mortar book chain at all at this point in the game?
See Also: Anybody Want A Bookstore Chain?