Barnes & Noble.com reported a $31.4 million net loss for the second quarter, a 31% improvement over the same period last year. The online bookseller also posted net sales of $83.7 million, a 2.9% increase.
An 8% increase in sales from the firm’s core consumer business was slightly offset by disappointing business sales. The latter was mostly due to expense cutbacks by major customers, particularly technologies companies.
However, the firm acquired over 670,000 new customers during the quarter, and now has a total of 9.6 million.
Gross margin totaled 24.5%, compared with 16.8% during the second quarter of 2000.
Marketing expenses fell to $12.1 million, or 14.4% of sales. Last year at this time, they were $21.6 million, or 26.5% of sales.
Fulfillment and customer service expenses also declined—to 19.9% of sales. Last year, they totaled 16.9% of sales.
Sales for the first half rose by 13.4% to $192.7 million, compared with last year’s first half.
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