Toys R Us and Barnes & Noble reported their holiday season sales for 2009, with sharply different results. Toys R Us had solid increases, while Barnes & Noble’s results were worse than expected.
Toys R Us said that same store sales in its domestic division were up 3.9% for the nine week holiday season, behind strong traditional toy sales, which offset lower videogame sales. This was the fourth consecutive year of positive holiday results for the toy chain.
Same store sales at Barnes & Noble, on the other hand, were down 5.4% for the holiday season, leading to a reduction in the company’s earnings projection for the quarter (now $1.20 to $1.40 per share, down from $1.30 to $1.50 per share). While brick and mortar sales were weak, online sales were up 17%, reflecting over-all trends (see “Holiday Sales Grow Slightly”) and the contribution from the company’s new Nook reader (see “B&N’s New Reader”).