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Sales for the quarter were down by 1.6% to USD1.2bn. This was reportedly a result of last year's record sales of J.K. Rowling's 'Harry Potter and the Deathly Hallows'.
Barnes & Noble store sales decreased by 1.6% for the quarter to USD1.1bn, and comparable store sales decreased by 4.7%.
Barnes & Noble.com sales for the quarter were USD99.8m, with a 3.6% comparable sales increase.
The company reported net earnings for the quarter of USD15.4m or USD0.27 per share.
Barnes & Noble provided guidance for the third quarter for comparable store sales to decline in the low single digits. Third quarter loss per share is expected to be in a range of USD0.10 to USD0.15. As a result of its first-half 2008 sales performance and current trends, the company is reportedly reducing its full-year comparable store sales guidance from slightly negative to a decrease in the low single digits. The company is reiterating full-year earnings per share guidance to be in a range of USD1.70 to USD1.90.
In addition the company announced that its board of directors has declared a quarterly cash dividend of USD0.25 per share for stockholders of record at the close of business on 9 September 2008, payable on 30 September 2008.
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