"While 2008 proved to be the most challenging year that the company and the industry have ever experienced, we are proud of our financial results in light of the macro retail environment," the company says-- adding that while its cost-cutting efforts are ongoing, "we will continue to invest in the growth areas of the business, as evidenced in our recent acquisition of Fictionwise."
That acquisition, for about $15.7 million in cash, gives B&N an entry into the e-book marketplace. In the next quarter, the company predicts comparable-store sales will fall 6% to
9%.--Sarah Mahoney
advertisement advertisement