Barnes & Noble backs FY17 comparable store sales view of down low single digits
"While we are pleased to have improved our performance due to expense reductions, we did experience sluggish sales, which we believe are directly related to the election cycle. With the election behind us, we hope and expect sales will improve over the holidays," said Len Riggio, Chairman and CEO of Barnes & Noble. The company continues to expect fiscal 2017 comparable store sales to decline in the low single digits and full year consolidated EBITDA to be in a range of $200M-$250M. Retail EBITDA is expected to be in a range of $240M-$280M, excluding the impact of any charges related to its cost reduction initiatives and costs associated with the recent CEO departure. NOOK EBITDA losses are expected to decline to a range of $30M-$40M, including previously announced transitional costs.