Sales Slow at BN Barnes & Noble reported “lower than expected first quarter sales results” and foresees a weak “overall retail environment,” leading the company to lower full-year guidance for same-store sales for the year from slightly positive to slightly negative. On a comparable-store basis, first quarter BN store sales dropped 1.5 percent at $1 billion, while BN.com sales were up 7.2 percent to just under $100 million, with overall sales at $1.2 billion for the quarter. The company reached an agreement in principle with California over “its long-standing dispute regarding the collection of sales and use taxes on sales […]
