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Barnes & Noble F3Q07 (Qtr End 11/3/07) Earnings Call Transcript

Nov. 20, 2007 3:07 PM ETBarnes & Noble, Inc. (BKS)
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Barnes & Noble, Inc. (NYSE:BKS) F3Q07 Earnings Call November 20, 2007 10:00 AM ET


Joseph Lombardi - CFO

Steve Riggio - CEO


Aaron for Charles Grom – JP Morgan

Bill Armstrong - CL King

Deron Kennedy - Goldman Sachs

Dave Weiner - Deutsche Bank


Good day and welcome to the Barnes & Noble third quarter2007 earnings results conference call. Today's call is being recorded. At thistime for opening remarks and introductions, I would like to turn the call overto the Chief Financial Officer, Mr. Joseph Lombardi. Please go ahead, sir.

Joseph Lombardi

Good morning and welcome to Barnes & Noble's thirdquarter 2007 conference call. Joining us today are Steve Riggio, MitchellKlipper, Marie Toulantis and other members of the senior management team.

Before I begin, I would like to remind you that this call iscovered by the Safe Harbordisclosure contained in our public documents and is the property of Barnes& Noble. It is not for rebroadcast or use by any other party without theprior written consent of Barnes & Noble.

This morning before the market opened we released ourresults for the third quarter ended November 3, 2007. Consolidated sales totaled $1.176 billion for the quarter,a 5.7% increase over last year. Sales at Barnes & Noble stores were $1.015billion for the quarter, up 4.5% over a year ago. Comparable store salesincreased 2.6% for the quarter, which was at the high end of guidance for aflat to low single-digit increase.

In the third quarter, we opened 14 Barnes & Noble storesand closed three for a quarter end total store count of 709. We closed two moreB. Dalton stores in the second – I mean, third quarter resulting in a total B.Dalton store count of 92.

Sales at BarnesandNoble.com were $108 million for thequarter, a 14.5% comparable sales increase compared with the prior year

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