Barnes & Noble.com boosted its second quarter revenue to $85.8 million, a 2.6% increase over the same period last year. The online book-and-music seller also lowered its net loss to $20.6 million, compared with $38.4 million in the second quarter of 2001. Consumer sales rose by over 25%, but business sales--as expected--declined. Operating expenses decreased by 31.9% during the quarter. The New York
Barnes & Noble.com boosted its second quarter revenue to $85.8 million, a 2.6% increase over the same period last year.
The online book-and-music seller also lowered its net loss to $20.6 million, compared with $38.4 million in the second quarter of 2001.
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Consumer sales rose by over 25%, but business sales--as expected--declined.
Operating expenses decreased by 31.9% during the quarter.
The New York company forecast third-quarter sales of between $100 million and $110 million, and $400 million to $450 million. Net losses are expected to continue.
CEO Marie Toulantis said in a statement that the firm has "cash and marketable securities of over $87 million, no debt and improving inventory turns."
