Barnes & Noble 1Q Loss Widens; Boosts Fiscal Year View; Upbeat 2Q View

Barnes & Noble Inc. (BKS) on Thursday posted a wider fiscal first-quarter loss amid weak store traffic, but the bookseller boosted its fiscal year outlook and forecast fiscal second-quarter earnings above Wall Street's expectations, crediting its cost-cutting efforts.

The company's shares were up 6.7% at $25.50 in recently premarket trading as the loss wasn't as deep as expected.

Barnes & Noble raised its March projection for fiscal year earnings by 15 cents to $1.10 to $1.40. It also forecast a same-store sales decline of 3% to 5% , compared with a previously projected drop of 4% to 6%.

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- Posted: 2009-05-21 08:55:41

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