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Barnes & Noble crumbles on slow sales growth, Riggio news

  • Barnes & Noble (BKS) segment revenue growth: Retail -9.9%; College +2.4%; Nook -39%.
  • Core comparable bookstore sales (no Nook) fell 7.2% for the quarter off what the company believes was a tough comp (The Hunger Games, Fifty Shades of Grey).
  • At Nook, lower device sales filtered down to hurt digital content sales as well, -15.8% Y/Y.
  • B&N reaffirms previous guidance in which it expects retail comparable store sales to fall in the high single digits and college comparable store sales to decline at a low single digit pace. (PR)
  • BKS -14.8% premarket to $14.20
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