Barnes & Noble 4Q Profits Down
New York City, Barnes & Noble, Inc. reported earnings of $115.6 million, or $1.56 per share, for the three months ended Jan. 29, compared with $130.2 million, or $1.65 per share, in the year-ago period. The 11% decline in fourth-quarter profits was influenced by the spin-off of its GameStop division. Sales for the fourth-quarter were $1.67 billion, compared with $1.59 billion in the same period a year ago. Store sales increased 5% to $1.4 billion for the quarter, while comp-store sales rose 1.7%. The bookseller opened 32 new stores and closed 13 branches during the year, ending with 666 stores.
Sales for the B. Dalton division, which comprise about 4% of total bookstore sales, were $60.9 million for the quarter, which is a 24% decrease over the year-ago period. B. Dalton comp-store sales declined 3.2% for the fourth quarter.
For the fiscal year, earnings were $143 million, or $1.93 per share, vs. $151.8 million, or $2.07 per share, a year ago. Total sales for the year were $4.78 billion, up from $4.37 billion a year ago.
Read All About It: Store Performance
New York City, Bridging the gap between strategy and execution is a challenge for any organization. It’s especially challenging for retailers.
In an article titled “Moving Retail to the Next Level: Consistent Store Performance Management,” StorePerform president and CEO Srikant Vasan talks about rising to the challenge.
“While every retailer has stores that outperform the pack, until now, retailers have lacked the tools to leverage these best practices and attain consistent performance in all stores,” Vasan writes.
For the complete article, click on “Guest Commentaries” above.
Ann Taylor Adds to Board
New York City, The day after naming Kay Krill as CEO, Ann Taylor Stores Corp. brought Linda Huett, president and CEO of Weight Watchers, onto its board of directors. Ms. Huett will bring the number of independent directors on Ann Taylor’s 10-person board of directors to eight. Ms. Huett will also serve as a member of the independent compensation committee.