Barnes & Noble shares slide 10% premarket after earnings

Barnes & Noble Inc. shares slid 10% in premarket trade Thursday, after the book store chain posted fiscal third-quarter earnings. The company said it had net income of $66.9 million, or 91 cents a share, in the quarter to Jan. 26, after a loss of $63.5 million, or 87 cents a share, in the year-earlier period, when it booked impairment charges. Adjusted per-share earnings came to $1.21, ahead of the $1.07 FactSet consensus. Sales were flat at $1.2 billion, matching the FactSet consensus. But same-store sales rose 1.1% to beat the FactSet consensus of 0.5%. “In fiscal 2019, we have been focused on growing the top line, which contributed to our best holiday in years,” Chairman Len Riggio said in a statement. The company offered only EBITDA guidance, providing a range of $140 million to $155 million for fiscal 2019, which is below the $165 million FactSet consensus. Shares have gained 20.6% in the last 12 months, while the S&P 500 has gained 1.6%.

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