Both Borders and Barnes & Nobel reported their Q3 results on Tuesday, and both experienced increased same store sales during the period. Both companies also reported operating losses, but the news was generally regarded as positive.
Barnes & Noble same store sales in its superstores were up 2.6% for the quarter; Borders same store sales were up 1.1% in its superstore division. Even Borders' Waldenbooks division had a same store increase, of 3.6%.
Barnes & Noble had a $4.4 million net profit for the quarter, with an inventory adjustment (reducing the company's estimated shrink) responsible for turning a small operating loss into a profit. The operating loss was better than expectations. CEO Steve Riggio noted a 'pretty solid business in the adult game business' in response to a question during the conference call, reflecting the company's continuing emphasis on board games, including a number of titles also sold by the hobby channel.
Borders lost $161 million, of which $116.5 million was a loss on sales of its
