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 […]
