Barnes & Noble (BKS) reported fourth quarter ($1.04) per share, $0.13
worse than the Capital IQ Consensus Estimate of ($0.91).
Revenues rose 4.0% year/year to $1.37 billion versus the $1.39 billion
consensus.
Comparable store sales decreased 2.9% for the quarter. Fourth quarter comparable
store sales were temporarily negatively impacted by the liquidation of over 200
Borders bookstores during the quarter. As those stores have closed, the co is
realizing incremental sales in those markets.
BN.com comps +78% in Q4. The co has previously announced that it received a
proposal from Liberty Media (LINTA, LCAPA, LSTZA) to acquire the company ($17.00
per share in cash) and that Liberty's proposal is under review by the Special
Committee of the company's Board of Directors which is charged with reviewing
strategic alternatives for the company.
In light of the pendency of that proposal and its ongoing process, the Special
Committee has determined that the co will not at this time issue sales or
earnings guidance regarding the outlook for FY12.






