The Digital Reader

From the press release:

B&N today reported sales and earnings for its fiscal 2011 first quarter ended July 31, 2010. The company also announced that its Board of Directors has declared a quarterly cash dividend of $0.25 per share payable on September 30, 2010 to stockholders of record on September 9, 2010.

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FIRST QUARTER RESULTS

Total sales for the first quarter were $1.4 billion, a 21% increase compared to the prior year. Barnes & Noble.com sales increased 42% as compared to the prior year to $145 million, with comparable sales increasing 53%. Barnes & Noble store sales decreased 2% to $1.0 billion, with comparable store sales decreasing 0.9% for the quarter. In 2011, total sales include Barnes & Noble College Bookstore (“College”) sales of $226 million. College’s comparable store sales increased 2.9%, exceeding guidance of flat comparable store sales.

For the first quarter, the company reported a consolidated net loss of $63 million, or $1.12 per share. Included in these results are pre-tax legal expenses of $9.5 million, or $0.11 per share, resulting primarily from the Delaware Court of Chancery litigation, in which the Court flatly rejected Yucaipa’s challenge to the company’s stockholders rights plan. Excluding these expenses, the first quarter net loss was $1.02 per share, in-line with previously issued guidance of $0.85 to $1.15 per share.