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Barnes & Noble sales slump further but losses narrow

Tonya Garcia

Barnes & Noble Inc. reported a fiscal fourth-quarter net loss of $18.7 million, or 26 cents per share, after a loss of $21.1 million, or 29 cents per share last year. Sales totaled $755.4 million, down from $786.1 million last year. The FactSet consensus, which is based on a single analyst, was for a loss of 24 cents per share and sales of $759 million. Nook sales fell to $20.7 million from $25.1 million last year. Barnes & Noble will not host an earnings conference call following news on June 7 that it will be taken private by hedge fund Elliott Advisors UK Ltd. in a $683 million all-cash deal. Barnes & Noble shares edged down 0.2% in premarket trading, and have fallen nearly 6% for the year to date. The S&P 500 index has rallied 16.4% for the period.