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Continued: Barnes & Noble's loss more than doubles on weakness in Nook e-readers

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  • Last update: June 26, 2013 - 10:36 AM

Meanwhile, its bookstores also saw sales decline. Revenue at stores open at least a year, a key metric, fell 8.8 percent during the period. It also warned it expects that figure to decline in the "high-single digits" for its fiscal 2014, partly as a result of tough comparisons with last year.

Overall retail sales, which include Barnes & Noble bookstores and online sales, declined 10 percent, in part because of store closings.

Barnes & Noble declined to provide an update on the possibility of taking the retail business private. Leonard Riggio, the founder of Barnes & Noble, has offered to buy the company's physical bookstores and website, but not the Nook unit.

The company also said it's reviewing previous financial statements that may result in a revision.

For the February-to-April quarter, Barnes & Noble Inc. said its net loss totaled $118.6 million, or $2.11 per share. That compares with a loss of $56.9 million, or $1.06 per share, last year.

Revenue fell 7 percent to $1.28 billion.

Analysts expected a loss of 97 cents per share on revenue of $1.33 billion.

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