>NEW YORK, Jan 6 (Reuters) - Barnesandnoble.com <BNBN.O>, the online arm of the largest U.S. bookseller, said on Thursday its fourth-quarter sales tripled to $81.5 million, beating analysts' estimates.
"We made significant investments in distribution, warehouse processing and technology, which resulted in the tripling of our sales for the important fourth quarter, exceeding analysts' estimates," said Marie Toulantis, chief financial officer of barnesandnoble.com.
Analysts' estimates for the quarter ranged between $68 million and $73 million. In the fourth quarter of 1998 the company's sales were $25.9 million
"Despite these investments, our operating loss is not expected to exceed consensus estimates, and in fact, as a percentage of sales, the loss will decline for this period," she said.
Full-year sales totaled $200 million, compared with analysts' estimates of $188 million to $193 million and last year's sales of $61.8 million.
Ninety percent of the company's sales were books, Chief Executive Jonathan Bulkeley said in a statement. "We expect to see sales in our related stores such as music, prints and posters, and (electronic greeting cards) to become a more important component of our business in the year 2000, and the years ahead," he added.
Archrival Amazon.com Inc. <AMZN.O> said on Wednesday that while its fourth-quarter sales jumped over 150 percent from the year-earlier period, it warned its losses for the quarter would not be trimmed.
Barnesandnoble.com shares were up 2 to 16-3/16 in early Nasdaq trading. Amazon.com shares were up 1-1/4 to 71, after falling 12-3/16 on Wednesday. |
