Barnes & Noble Reports Comparable Store Sales for March; Revises First Quarter and Full Year Bookstore Guidance.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 10, 2003

Barnes & Noble, Inc. (NYSE:BKS), the world's largest bookseller, today reported that Barnes & Noble comparable store sales for March 2003 decreased (8.4)%, a precipitous decline from the previous month. Comparable store sales at B. Dalton Bookseller, which comprise approximately 5.0% of total bookstore sales, decreased (17.3)% in March.

Sales were sluggish due to ongoing weakness in the retail sector resulting from the conflict in Iraq, prior to which sales were tracking on target with previous guidance.

Due to the weakness in sales, the company is reducing its bookstore earnings forecast for the first quarter by $(0.07) per share to a range of $(0.07) to $(0.09) per share. This assumes a comparable store sales forecast of (6.0)% to (7.0)%. Accordingly, full-year bookstore EPS guidance should be reduced by $(0.06) per share, which reflects the first-quarter shortfall. The company now forecasts full-year comparable store sales to be flat, which includes the revised first quarter.

Guidance for the second quarter will be issued on May 22, 2003 when sales for April and earnings for the first quarter are announced.

Using previously announced guidance from GameStop and Barnes & Noble.com and the bookstore re-forecast, consolidated EPS is expected to be in the range of $(0.07) to $(0.11) for the first quarter and $1.87 to $1.95 for the full year.

ABOUT BARNES & NOBLE, INC.

Barnes & Noble, Inc. (NYSE: BKS) is the world's largest bookseller, operating 628 Barnes & Noble stores in 49 states. It also operates 258 B. Dalton Bookseller stores, primarily in regional shopping malls. The company offers titles from more than 50,000 publisher imprints, including thousands of small, independent publishers and university presses. It conducts its e-commerce business through Barnes & Noble.com (http://www.bn.com) in which it owns an approximate 38% interest.

Barnes & Noble also has approximately a 60% interest in GameStop (NYSE: GME), the nation's largest video-game and entertainment-software specialty retailer with 1,231 stores.

General financial information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's corporate Web site: http://www.barnesandnobleinc.com/financials.

SAFE HARBOR 

This press release contains "forward-looking statements." Barnes & Noble is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements. These forward-looking statements are based on currently available information and represent the beliefs of the management of the company. These statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, general economic and market conditions, decreased consumer demand for the company's products, possible disruptions in the company's computer or telephone systems, possible work stoppages or increases in labor costs, possible increases in shipping rates or interruptions in shipping service, effects of competition, possible disruptions or delays in the opening of new stores or the inability to obtain suitable sites for new stores, higher than anticipated store closing or relocation costs, higher interest rates, the performance of the company's online and other initiatives, the successful integration of acquired businesses, unanticipated increases in merchandise or occupancy costs, unanticipated adverse litigation results or effects, product shortages, and other factors which may be outside of the company's control. Please refer to the company's annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially.