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Barnes & Noble reported their sales from the 2017 holiday quarter, and the news is not good.
B&N today reported holiday sales for the nine-week holiday period ending December 30, 2017. Total sales for the holiday period were $953 million, declining 6.4% as compared to the prior year. Comparable store sales also declined 6.4% for the holiday period, while online sales declined 4.5%.
Entering December, the Company was encouraged by the comparable store sales improvements throughout the second quarter and into November. However, sales trends softened in December, primarily due to lower traffic.
The Company's book business declined 4.5%, outperforming the overall comparable store sales performance. Declines in the gift, music and DVD categories accounted for nearly half of the comparable store sales decrease. The Company said it remains focused on executing its strategic turnaround plan, which includes an aggressive expense management program.
The keywords are "aggressive expense management program," which translates to "lowering" the cost of employees, and closing and downsizing stores.
Previously: Barnes & Noble Pivots to Books
(Score: 2) by takyon on Tuesday January 09 2018, @10:28PM (2 children)
Do they have to tax you before the 10% discount is applied?
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 1) by Crash on Tuesday January 09 2018, @11:04PM (1 child)
Ah dunno, I never got the B&N membership. Borders was free. At my peak-reading (in adulthood) I didn't average more than a couple soft-covers a month. The B&N membership would require you to buy at least 3-4 non-hardcovers a month for it to be remotely feasible.
IIRC most of those discounts were pre-tax, just like coupons -- as discounts don't cover tax.
(Score: 0) by Anonymous Coward on Wednesday January 10 2018, @05:59AM
Does it make a difference?
Assume $10 item, 50% discount, 10% tax ( just to make the numbers easy )
Pre-tax: item-discount=$5. Add tax. $5.50 out the door.
Post-Tax: Item with tax: $11. Minus $5.50 discount. $5.50 out the door.
You come out a little better on Pre-Tax if its a fixed discount... run the above with flat $5 discount.. you'll save 50 cents if they deduct the discount from the taxable price before factoring in tax.