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Non-Tech : Barnes & Noble (BKS)

BKS 6.490

0.0%

Aug 19 5:00 PM EST

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To: Glenn Petersen who wrote (568)	4/2/1999 6:05:00 PM
From: Jerry S.	Read Replies (2) of 1691

Glenn, don't think that the 1998 sales for BNBN (what's this BOOK stuff?) will remain static. Here's an excerpt from a press release showing that almost half of the annual sales were from the 4Q, which indicates fast qtr to qtr growth: barnesandnoble.com sales for the year were $70.2 million, a 381 percent increase over 1997. The full-year sales results exceeded the company's projections of $60-65 million, partially as a result of an extremely successful holiday advertising campaign. Fourth quarter sales were $31.1 million, 3.8 times the 1997 sales for the same period. According to Media Metrix, the barnesandnoble.com web site is now the fourth largest shopping site, among the top 30 largest sites on the Internet and was ranked as one of 1998's fastest-growing web sites. And don't forget that they will have fresh $200 million to work with to further enhance sales and market share. And no, I don't think that BNBN market cap will approach that of AMZN initially, but like I said before, if Priceline.com can fetch 11 billion (annual sales of $35 million), then BNBN getting at least 1/2 of that should be a lock. $60 per share for BKS is a reasonable figure imo

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