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Non-Tech : Barnes & Noble (BKS)
BKS 6.4900.0%Aug 19 5:00 PM EST

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To: American Spirit who wrote (1036)5/10/1999 2:29:00 AM
From: Glenn Petersen  Read Replies (2) of 1691
 
Yes, AMZN has lost money but it can be argued that their financial operating
performance exceeds the results recorded by BNBN. Consider the following:

Year ending December 31, 1998:
AMZN: Sales: $610.0 MM
Net loss: $(125.0 MM)
BNBN: Sales: $62.0 MM
Net loss: $(83.0 MM)

Quarter ending March 31, 1999:
AMZN: Sales: $294.0 MM
Net loss: $(36.0 MM)
BNBN: Sales: $32.0 MM
Net loss: $(20.0 MM)

AMZN's market cap is approximately 8.85 times that of BKS, but what is the real
value of BKS? Don't you need to separate the values assigned to BNBN and the
bricks and mortar?

Also, AMZN has created a powerful, viable brand and it has kept itself in a
continual state of evolution. It is going to be very hard, if not impossible,
for BNBN to catch them. I don't think that they can be as nimble as AMZN.
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