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November 21, 2011By Sarah Weinman

Hastings Losses Widen As It Ventures Into Digital Territory

November 21, 2011By Sarah Weinman

Hastings Entertainment reported results for its third quarter early Monday morning and the losses continue to mount. The company reported a net loss of $5.5 million (or 65 cents a share), considerably larger than the $3.1 million loss reported a year ago. Overall book comps decreased 4.5 percent for the quarter, affected by “a weaker slate of titles released during the current quarter and the increasing popularity of e-readers” as well as increased promotional pricing. Unlike previous years, Hastings did not break out specific comps for new versus used book sales for the quarter. During the third quarter Hastings also […]

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Filed Under: Booksellers, Earnings Reports

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