To: Bill Harmond who wrote (82325 ) 10/29/1999 8:07:00 AM From: Glenn D. Rudolph Respond to of 164685
These guys are gaining: "FOCUS-Barnesandnoble.com loss grows, sales double (Includes CFO comments and adds details throughout) By Barbara Etzel NEW YORK, Oct 28 (Reuters) - Barnesandnoble.com Inc.,<BNBN.O> the fourth largest electronic commerce site, reported on Thursday its net loss increased in the third quarter, but sales more than doubled. The third-quarter net loss was $21.9 million, or 15 cents per share, compared with a loss of $18.6 million, or 16 cents, in the year earlier quarter. The share loss is expected to increase in the fourth quarter as holiday advertising expenditures double. Yet, while barnesandnoble.com's net loss widened, its per share loss beat the 23-cent expectation of analysts surveyed by First Call/Thomson Financial. Shares of the company were up 1/4 at 19-15/16 in Nasdaq trade. Barnesandnoble.com expects to record a fourth quarter per share loss of about 26 or 27 cents, as it doubles holiday advertising expenditures from the $54 million spent in the third quarter, Marie Toulantis, chief financial officer, said in an interview. On Tuesday the company launched several new product lines for the holiday shopping season. Visitors to Barnesandnoble.com's site will be able buy posters, canvases or electronic greeting cards, choosing from over 4,000 art works found in books and magazines such as The New Yorker and The Saturday Evening Post. Competitor Amazon.com Inc. <AMZN.O>, recently increased its product offerings, adding toys and electronics to its list of offerings, and allowing any retailer or individual to sell merchandise through its site, which has over 13 million customers. Barnesandnoble.com expects to have over 3.5 million customers by the end of the year, a pace that the company is happy with, said Toulantis. The company added a record 581,000 during the third quarter bringing the tally to 2.9 million on Sept. 30 after beginning the year with 1.3 million. The customers will have access to Barnes & Noble Inc.'s <BKS.N> more than 750,000 in-stock titles, for which barnesandnoble.com claims to have the largest standing inventory of any online bookseller ready for immediate delivery. Repeat customer orders increased to 63 percent in the third quarter, compared with 60 percent increase as of June 30. Net sales for barnesandnoble.com surpassed analysts expectations of $40 million, by rising 215 percent to $49.1 million from $15.6 million from the year-earlier quarter, Toulantis said The company's gross margin, which decreased to 20.6 percent from 22.9 percent in the third quarter a year earlier, is not expected to fall further this year, Toulantis said. 859-1860)) REUTERS Rtr 22:32 10-28-99"