U.S. bookseller Barnes & Noble Inc said on Thursday it expects lower same-store sales for its current quarter and full year after adjusting its financial reporting period to reflect a recent acquisition.
Barnes & Noble said on September 30 it would change its fiscal year following its purchase of College Booksellers to align its results with that business.
Barnes & Noble is currently in its second quarter, from August 2 to October 31, and expects comparable store sales to drop 1 percent to 3 percent for the period. For its new fiscal year 2010, from May 3 2009 to May 1 2010, it expects same-store sales to fall between 2 percent to 4 percent.
The company expects full year earnings per share of 59 cents to 89 cents, including transaction costs and purchase accounting adjustments. For the second quarter, it expects a loss per share of 45 cents to 55 cents, including one-time transaction costs.
(Reporting by Michele Gershberg; Editing by Derek Caney)