Trading Update from B&N

B&N's aggressive sales year ran into choppy waters over the holiday period and as a result they have reduced their full year eps guidence. They do note however the full year eps target is still higher than the target they set at the beginning of their fiscal year. Full year results will be released on March 20, 2008. From the press release:

Barnes & Noble store sales for the nine-week holiday period from November 4, 2007 to January 5, 2008. were $1.2 billion, a 4.1% increase over the same period in fiscal 2006. For the 48 weeks ended January 5, 2008, Barnes & Noble store sales rose 4.8% to $4.3 billion, while comparable store sales increased 2.0%.

Barnes & Noble.com comparable sales increased 10.9% for the holiday selling season and totaled $129.4 million. For the 48 weeks ended January 5, 2008, Barnes & Noble.com sales were $428.8 million, representing a comparable sales increase of 12.8%.

Based on holiday sales results and January sales trends to date, the company is reducing its earnings per share guidance to $1.57 to $1.76 and $1.81 to $1.99 for the fourth quarter and full year, respectively. The company’s previous earnings per share guidance was $1.67 to $1.86 and $1.91 to $2.09, for the fourth quarter and the full-year, respectively.