To: H James Morris who wrote (89976 ) 1/6/2000 5:28:00 PM From: Glenn D. Rudolph Respond to of 164684
January 6, 2000 BARNES & NOBLE "SUPER" STORE COMPARABLE SALES INCREASED 5.8 PERCENT barnesandnoble.com Sales More Than Tripled Over Prior Year B. Dalton Comparable Sales Increased 2.3 Percent New York, NY (January 6, 2000)-Barnes & Noble, Inc. (NYSE:BKS), the nation's largest bookseller, today reported record "super" store sales of $719.2 million for the nine-week period from October 31, 1999 to January 1, 2000, an increase of $67.1 million (10.3 percent) over the same period last year. Comparable store sales increased 5.8 percent during the same period. For the 48 weeks ended January 1, 2000, "super" store sales increased $281.8 million to $2,596.0 million (12.2 percent), while comparable store sales increased 5.9 percent. B. Dalton sales for the nine-week period of $128.5 million decreased $11.3 million (8.1 percent) from the prior year, due to the closing of 85 stores. Comparable sales increased 2.3 percent for the same period. For the 48 weeks ended January 1, 2000, B. Dalton sales decreased $36.7 million to $401.5 million (8.4 percent) while comparable sales increased 0.4 percent. More significantly, barnesandnoble.com, a 40-percent-owned affiliate of the company, reported that sales for the last quarter more than tripled over the same period last year, increasing from $25.9 million to $81.5 million. In all, 1.1 million new customers were acquired in the fourth quarter. The newly acquired Babbage's Etc. reported record sales for the holiday period reflecting strong demand for electronic games and PC entertainment software. Sales for the holiday period were $188.7 million, an increase of 9.5 percent over the prior year. Comparable store sales for the nine-week period rose 2.2 percent, and for the 48-week period increased 14.3 percent. Inventory shortages of select hardware and software items limited sales during the month of December; however, sales for the full year are expected to be on plan. Earnings for the retail business -- including Barnes & Noble, B. Dalton and Babbage's Etc. -- are expected to meet consensus estimates for the quarter and for the full year. "This holiday season exceeded our expectations, and clearly validated our multi-channel strategy," said Leonard Riggio, chairman and chief executive officer of Barnes & Noble, Inc. "Sales were strong and positive in the malls, in our 'super' stores, and in our online business. In addition, the robust sales of our new electronic gift card, which increased gift certificate purchases by 30 percent, will contribute to another strong performance in January. At this time, we are looking forward to the year 2000, which we believe will produce even better results owing to our expanding market share and our rapidly growing customer base." About Barnes & Noble, Inc. Barnes & Noble stores stock an authoritative selection of book titles and provide access to more than one million titles. We offer books from more than 50,000 publisher imprints with an emphasis on small, independent publishers and university presses. Barnes & Noble is one of the world's largest booksellers on the World Wide Web (http://www.bn.com), and the exclusive bookseller on America Online (Keyword: bn). The company also publishes books under its own imprint for exclusive sale through its retail stores, mail-order catalogs, and Web site. Barnes & Noble recently acquired Babbage's Etc., one of the nation's largest operators of video game and entertainment software stores. SAFE HARBOR This release may contain forward-looking statements regarding expectations of the company. These statements are based on currently available information and represent the beliefs of the management of the company. The future events which are the subject of such statements are subject to certain risks, including those set forth in the company's annual, quarterly and periodic reports on file with the Securities and Exchange Commission. # # # General financial information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's investor relations Web site: http//www.shareholder.com/bks/. ------------------------------------------------------ This service provided by Shareholder Direct. Additional Information: shareholder.com