NEW YORK (Reuters) - Barnes & Noble Inc reported a larger quarterly loss as it incurred costs to develop its digital bookstore but forecast a sharp sales increase next year, fueled by sales of its Nook electronic reader and e-books.
Barnes & Noble, the No. 1 U.S. specialty bookstore chain by sales, said on Monday that sales at its namesake stores open at least one year, or same-store sales, fell 3.1 percent during its fiscal fourth quarter, ended May 1. At its College Bookstore division, they rose 2.9 percent.
The New York-based retailer said online sales increased 51 percent during the quarter and forecast that they would rise 75 percent in fiscal 2011 to $1 billion. Overall sales during the quarter rose 19.4 percent to $1.32 billion.
Barnes & Noble reported a net loss of $32.1 million, or 58 cents per share, compared with a loss of $2.1 million, or 5 cents per share, a year earlier. Excluding one-time items, the bookseller lost 89 cents a share.
Barnes & Noble expects full-year 2011 results, excluding certain one-time items, to range from a loss of 10 cents per share to a gain of 30 cents. It expects a first-quarter loss of between 85 cents and $1.15 per share.
It forecast same-store sales at its namesake stores would be flat to up 3 percent in the first quarter and for the year.
Barnes & Noble and Amazon.com Inc
Barnes & Noble will host its annual shareholder meeting on Tuesday.
(Reporting by Phil Wahba; Editing by Steve Orlofsky)
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