According to Publishers Weekly, Barnes & Noble anticipates a net loss for the year. While online sales increased 2%, to $109 million, total sales for the nation’s largest bookstore chain dropped 4.4%, to $1.1 billion, in the third quarter. B&N’s numbers for the year are reportedly down 1.7%, to $3.50 billion, with a net loss of $5.2 million. Same period numbers in 2007 showed earnings of $20.7 million. B&N CEO Steve Riggio attributed the falling numbers to a decline in foot traffic and consumer spending. To counter the drops, Riggio said, executives are “taking measures to reduce expenses for the balance of this year and next.”
Other chains suffered the same third-quarter disappointments. Books-A-Million’s total revenue dropped 5.7%, to $110.9 million, leaving them down 4.8%, to $349.2 million, for the year. According to CEO Sandy Cochran, comparable stores dropped 9.9%, the “weakest comparable store sales in many years.” This year’s $2.2 million loss quadrupled the $550,000 loss recorded for last year’s period. Total revenue across the entire year was down 4.8%, to $349.2 million, with a $635,000 loss compared to $4.6 million in earnings last year.  
The pinch affected most segments, although bargain books, gifts, and teen categories showed positive results. Like B&N, BAM is focused on “controlling costs” and “managing inventory,” Cochran said.
Borders announced a 10% drop in sales for the period, to $693.4 million, amounting to a net loss of $172.2 million. A series of one-time charges totaling $133.2 million was included in the loss, without which the loss nearly equaled last year’s third quarter results. Comparable sales fell 12.8% in Border’s superstores, 7.7% in Waldenbooks.
Borders also included news that it is no longer up for sale. According to CEO George Jones, the company has reviewed its options and chosen “to remain as we are,” independent and publicly traded. The option to sell its Paperchase division to Border’s largest shareholder, Pershing Square Capital, remained active through Jan. 15, although at press time the option had not been exercised.