Barnes & Noble profit falls less than expected

Barnes & Noble Inc's (BKS.N) quarterly profit did not fall as much as anticipated, as the retail chain said it kept a tighter hold on expenses to counter the continued decline in book sales.

The largest U.S. brick-and-mortar bookseller said on Thursday it earned $12.3 million, or 21 cents per share, in its second quarter that ended Aug. 1, down from $15.4 million, or 27 cents per share, a year earlier.

Excluding a benefit from an insurance settlement, it earned 14 cents per share, topping analysts' average forecast of 10 cents a share, according to Reuters Estimates. The company had forecast earnings of 5 cents to 15 cents per share.

Read Full Article from Reuters

- Posted: 2009-08-20 10:42:20

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