Submitted by Blake on January 6, 2017 - 11:44am
Barnes & Noble Inc. posted its first decline in holiday sales in three years, hurt by a downturn in the coloring-book category, bringing another sign that the Christmas season wasn’t kind to retailers.
Same-store sales sank 9.1 percent for the nine-week holiday period, the New York-based company said on Thursday. Coloring books and other art supplies — products that had surged last year in part because adults were embracing them — were particularly weak. Still, Barnes & Noble expects to bolster its operating profit by keeping a tight lid on expenses.
From Barnes & Noble holiday sales sink as coloring-book fad fades – The Denver Post