by Lauren Coleman-Lochner at Bloomberg
Barnes & Noble Inc. investors were bracing for weak results over the holidays. What they got was worse.
The bookstore chain posted profit of 96 cents last quarter, well below the $1.13 analysts estimated. And same-store sales — a closely watched benchmark — plunged 8.3 percent. That was the biggest holiday-quarter decline since 2005.
The stock fell as much as 9.1 percent to $9 in New York trading, the biggest intraday drop since August 2016. That followed an 11 percent decline this year through Wednesday’s close.
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