Barnes & Noble Posts Loss
New York City Barnes & Noble Inc. reported a first-quarter loss on Thursday, hurt by a charge. The bookseller also lowered its second-quarter and full-year forecast for sales at existing stores, citing the difficult retail environment.
The retailer reported a loss of $2.2 million for its fiscal first quarter ended May 3, compared with a loss of $1.67 million a year earlier.
The latest results included a pre-tax charge of $8.3 million for the settlement of a dispute regarding the collection of taxes on sales made by its online unit.
Quarterly sales rose to $1.16 billion from $1.15 billion. Same-store sales fell 1.5%.
Barnes & Noble is mulling the acquisition of rival Borders Group Inc., which had said in March that it might sell itself as it has struggled with liquidity and the soft economy.
Barnes & Noble said it now expects full-year same-store sales to be down slightly, compared with its previous view for a slight rise. Second-quarter same-store sales are expected to decrease in the low to mid-single digits, according to the company.
Office Depot receives pre-LEED certification for new prototype
DELRAY BEACH, Fla. Office Depot announced that it has become the first company to achieve volume pre-certification under the pilot Leadership in Energy and Environmental Design (LEED) Portfolio Program for its store prototype design – the retailer’s master set of drawings – from the United States Green Building Council (USGBC).
A USGBC member since 2007, Office Depot was part of the first group of participants to become involved in the pilot of the Portfolio Program. Part of the initiative involves piloting a volume certification path to enable companies to integrate LEED attributes into a prototype design and apply it across multiple buildings.
“Office Depot has implemented a number of initiatives over the past couple of years to improve the energy efficiency of our stores and reduce our environmental footprint,” said Ed Costa, vp of construction for Office Depot. “Achieving Volume Pre-Certification through LEED affirms our leadership position in the retail industry as well as in general building construction. The entire organization is proud of this accomplishment.”
The first Office Depot store to be built to this prototype is located in Austin, Texas and is scheduled to open late next month. According to the USGBC, LEED-Certified buildings reduce energy usage, create less waste and emit fewer harsh chemicals.
Weis Markets to acquire Giant Markets
SUNBURY, Pa. Weis Markets announced its plans to purchase the stores of Binghamton New York-based Giant Markets. It expects to complete the purchase in by Aug. 21.
Weis Markets will purchase Giant Markets’ Broome County stores located in Binghamton, Vestal, Endicott, Endwell and Johnson City.
“This acquisition is an excellent strategic fit for our company. Giant Markets is the market leader in Broome County where they have excellent locations, modern stores and a strong market presence,” said Weis Markets’ vice chairman Jonathan Weis. “For many years, they have been a significant part of the community and they’ve offered an excellent combination of quality, value and service. We are pleased to be working with their associates and look forward to welcoming them to our organization.”