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Empresas y finanzas

Barnes & Noble suspends dividend, gives no outlook


    NEW YORK (Reuters) - Barnes & Noble Inc is suspending its dividend to preserve cash and declined to give a sales forecast for the final quarter of its fiscal year because of last week's bankruptcy of largest direct rival Borders Group , sending its shares down more than 5 percent.

    The top U.S. bookstore chain, which put itself up for sale last summer, said sales at its namesake superstores open at least 15 months rose 7.3 percent over the holidays, fueled by the popularity of its Nook e-reader.

    Sales at its College bookstore chain, which accounts for just under a quarter of overall business, fell 2.2 percent.

    Barnes & Noble said it would suspend its quarterly dividend of 25 cents per share to invest in its digital book strategy.

    The bookseller reported income of $60.6 million, or $1 per share, for the third quarter ended January 29, down 24.7 percent from $80.4 million, or $1.38 a share, a year earlier.

    Overall sales were up 6.9 percent at $2.3 billion.

    Shares fell $1.01 to $17.60 in premarket trading.

    (Reporting by Phil Wahba; Editing by Lisa Von Ahn)