Barnes & Noble Inc. (New York), reports total sales were $1.9 billion for the second quarter ended October 30, including sales of Barnes & Noble College Booksellers of $798 million. Excluding college, total sales increased 1 percent over the prior year period.
Comparable store sales declined 3.3 percent, while online comparable sales grew 59 percent driven by increases in core products and sales of digital devices and digital content.
“Since launching our eBookstore in the second half of last year, Barnes & Noble has quickly captured approximately 20 percent of the exploding eBook market,” says William Lynch, ceo of Barnes & Noble. “We have plans to grow our share well beyond 20 percent, and the early success of NOOKcolor is encouraging.
“Selling digital content is becoming a big business for us that we expect to grow at exciting rates,” he adds.
The bookseller’s expansion of the Toys & Games in-store offering produced a 42 percent sales increase for the department during the second quarter. In the third quarter, the company began testing additional concepts, including an expanded children’s offering and digital and electronics accessories, to drive further sales increases in 2011.
The company expects comparable store sales to grow between 5 and 7 percent for the third quarter, and to be in a range of flat to 3 percent for the full year.