Barnes & Noble Inc. Reports Record Revenues of $2.797 Billion; Barnes & Noble Store Comps Up 9.4 Percent.NEW YORK--(BUSINESS WIRE)--Feb. 19, 1998--Barnes & Noble, Inc. (NYSE NYSE See: New York Stock Exchange :BKS BKS Barracks BKS Best Kept Secret (gaming) BKS Bildung, Kultur Und Sport (German) BKS Brookside (city) BKS Bergen Kirurgiske Sykehus (Bergen, Norway) ), the world's largest bookseller, today reported a 14 percent increase in revenues for the fiscal year ended Jan. 31, 1998. Total revenues for the year were $2.797 billion, up from $2.448 billion in fiscal 1996. Barnes & Noble store revenues rose 21 percent to $2.246 billion from $1.861 billion in the prior year and contributed 80 percent of total revenues in 1997 compared with 76 percent in 1996. Adjusting for the fifty-third week included in fiscal 1996, the total revenue increase in 1997 was 16 percent, and the Barnes & Noble store revenue increase was 23 percent. Total revenues for the fourth quarter of 1997 were $968.5 million, up 10 percent from $882.5 million last year. Barnes & Noble store revenues for the fourth quarter were $762.8 million, up from $667.8 million. Adjusting for the fourteenth week included in 1996's fourth quarter, the total revenue increase for the fourth quarter of 1997 was 15 percent, and the Barnes & Noble store revenue increase was 20 percent. BarnesandNoble.com revenues for the year were $14.6 million and for the fourth quarter were $8.2 million. Comparable 52-week sales for the Barnes & Noble stores rose 9.4 percent for the year and increased 9.6 percent for the fourth quarter. Comparable store sales for the company's B. Dalton Dalton, city (1990 pop. 21,761), seat of Whitfield co., extreme NW Ga., in the Appalachian valley; inc. 1847. It is a highly industrialized city in a farm area. stores declined (1.1) percent for the year and increased 1.6 percent for the fourth quarter. At January January: see month. 31, 1998, the company operated 483 Barnes & Noble stores and 528 B. Dalton stores. During the year, the company opened 65 Barnes & Noble stores and closed 53 B. Dalton stores. Barnes & Noble stores offer an authoritative selection of more than 175,000 titles from more than 10,000 publishers with an emphasis on small, independent publishers and university presses. Barnes & Noble is the world's largest bookseller on the World Wide Web (http://www.barnesandnoble.com), and the exclusive bookseller on America Online's Marketplace (Keyword: BarnesandNoble). The company also publishes books under the Barnes & Noble imprint im·print tr.v. im·print·ed, im·print·ing, im·prints 1. To produce (a mark or pattern) on a surface by pressure. 2. To produce a mark on (a surface) by pressure. 3. for exclusive sale through its retail stores and mail-order catalogs. This release may contain certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Factors that could cause actual results to differ materially from any forward-looking statements contained in this release can be found in the company's 1996 annual report. Any forward-looking statements contained in this release are expressly qualified by the cautionary statements contained in the company's 1996 Annual Report. General financial information on Barnes & Noble, Inc. can be obtained via the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the by visiting the company's investor relations Investor relations The process by which the corporation communicates with its investors. web site at http://www.shareholder.com/bks/. CONTACT: Barnes & Noble Inc. Investor Contact: Marie Toulantis Executive Vice President, Finance, 212/633-3451 Elizabeth Babin, Vice President, Treasurer 212/633-3254 Media Contact: Mary Ellen Keating Senior Vice President, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. 212/633-3323 |
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