For the umpteenth year in a row, total sales dropped during the period, falling by a fraction of a percent, while comparable store sales increased by 0.6%
And no, the "comparable store sales" increase wasn't 1.6%, as some sites have reported. That was a trick by B&N to make their numbers look better in the press release.
Nook revenues continued their downward spiral, dropping 25.8% to $41.2 million. Digital content sales totaled $21.3 million, and hardware sales were $19.9 million for the holiday period.
Here's the press release:
B&N today reported sales for the nine-week holiday period ending January 2, 2016. Core comparable store sales, which exclude NOOK products, increased 1.6%, marking the second consecutive holiday increase.
“We are pleased with the performance of our bookstores during the holiday period, with core comparable store sales increasing 1.6% on top of a 1.7% increase a year ago," said Ron Boire, Chief Executive Officer of Barnes & Noble, Inc. "We were also encouraged by the improved performance of BN.com during December, as the site remained stable and traffic improved through the holiday period. As we look ahead, we see further opportunities to improve the experience and increase conversion on BN.com.”
Retail sales, which include Barnes & Noble stores and BN.com, were $1.1 billion, decreasing 0.8% due to lower online sales and store closures. Comparable store sales, including NOOK products, increased 0.6% for the holiday period.
NOOK sales of $41.2 million decreased 25.8%. Digital content sales were $21.3 million and device and accessory sales were $19.9 million for the holiday period.
Based on the holiday sales results, the Company continues to expect fiscal 2016 core comparable store sales to increase approximately 1%, and comparable store sales to be approximately flat. The Company also continues to expect full fiscal year EBITDA losses in the NOOK segment to decline versus the prior year.
image by MikeKalasnik