Barnes & Noble Loss Narrows in Quarter
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Barnes & Noble Inc. said its first-quarter loss narrowed to $2.03 million, helped by better results at the video-game and Internet businesses in which it owns stakes.
The net loss narrowed to 3 cents a share from $16.3 million, or 25 cents, a year earlier, when Barnes & Noble had a $14.9-million investment write-down. Sales rose 4.6% to $1.19 billion, the company said.
Profit rose at Barnes & Noble’s 60%-owned GameStop chain, and losses narrowed at the Barnes & Noble.com online store. Shares of Barnes & Noble rose 44 cents to $20.64 on the NYSE.
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