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B&N Earnings Preview

Barnes & Noble reports earnings for the fiscal second quarter on Thursday, and Forbes has a preview of what’s on tap. The company expects profit to range between 8 cents and 12 cents per share. The company has said it will incur expenses totaling 3 cents per share in the second and third quarters related to an adjusted store opening and closing schedule. Barnes & Noble expects same-store sales at bookstores to increase in the low- to mid-single digits, reflecting additional volume from HARRY POTTER AND THE DEATHLY HALLOWS.

Deutsche Bank analyst Dave Weiner said brick-and-mortar book industry fundamentals are risky. He agrees that Harry Potter sales were clearly “extraordinary,” but expects gross margin to decline about 1.8 percent due to Harry Potter and other discounting. He maintained his “Hold” rating on the stock in a note to investors Tuesday and lowered his price target by $3 to $37.

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