This is what it has come to. Barnes & Noble reported fiscal first quarter sales through July 28, and once again fell short of analysts’ expectations. The stock is down about 8 percent in the first hour of trading. Sales of $795 million were down 6.9 percent from a year ago (expectations were $833 million) and the net loss was $17 million, or 23 cents per share, compared to a loss of $10.8 million a year ago. EBITDA was $7.7 million, as compared to $11.2 million a year ago — even with $22 million in expense reductions. (Nook actually produced $2.3 million of […]