May 22 2008
Barnes & Noble Is Struggling
Barnes and Noble reported a loss for the first quarter of $2.2 million which is a greater loss than last year’s first quarter returns which were down $1.67 million. Interestingly, part of the loss was from settlement monies paid as a result of a dispute regarding collection of taxes on online sales. Same store sales were down 1.5 percent. The article stated that BN was still thinking of purchasing Borders.
Report on Business via Ann B.
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