BKS Tumble On Posting Wider Q4 Loss

Shares of Barnes & Noble Inc BKS tumbled as the company reported larger Q4 loss for the fourth quarter. The US bookseller also forecasted a loss for its fiscal first quarter. The New York-based company reported a loss of $0.58 per share for the quarter, as compared to a loss of $0.05 per share in the year-ago period. BKS has forecasted its sales to increase by as much as 3% in its next fiscal year. The company is forecasting a modest growth in its store sales in the next year. BKS will host its annual shareholder meeting today. During the meeting, it will disclose its long-term plans for competing against Amazon.com Inc AMZN and Apple Inc AAPL. BKS’ shares fell 12.92% to $14.29 at 9:51 am. Read more from Benzinga's Company news.