Barnes and Noble 1999 Annual Report Download - page 30

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS continued 29
Results of Operations
The Company’s sales, operating profit, comparable store sales, store openings, store closings, number of stores open and square feet
of selling space at year end are set forth below:
Fiscal Year 1999 1998 1997
(Thousands of dollars)
Sales
Bookstores(1) $3,262,295 3,005,608 2,796,852
Video game and entertainment software stores 223,748 -- --
Total $3,486,043 3,005,608 2,796,852
Operating Profit
Bookstores(1) $ 216,678 185,142 145,356
Video game and entertainment software stores 15,432 -- --
Total $ 232,110 185,142 145,356
Comparable Store
Sales Increase (Decrease)(2)
Barnes & Noble stores 6.1 % 5.0 % 9.4 %
B. Dalton stores 0.1 ( 1.4 ) ( 1.1 )
Babbage’s Etc. stores 12.5 -- --
Stores Opened
Barnes & Noble stores 38 50 65
B. Dalton stores -- 4 4
Total 38 54 69
Stores Closed
Barnes & Noble stores 16 13 13
B. Dalton stores 89 43 53
Total 105 56 66
Number of Stores Open at Year End
Barnes & Noble stores 542 520 483
B. Dalton stores 400 489 528
Babbage’s Etc. stores 526 -- --
Total 1,468 1,009 1,011
Square Feet of Selling Space
at Year End (in millions)
Barnes & Noble stores 12.7 11.9 10.8
B. Dalton stores 1.6 1.9 2.0
Babbage’s Etc. stores 0.8 -- --
Total 15.1 13.8 12.8
(1) Included in fiscal 1997 are sales and operating losses
associated with Barnes & Noble.com of $14,601 and
($15,395), respectively. Beginning in fiscal 1998 the
Company’s consolidated statement of operations presents
its equity in the results of operations of Barnes &
Noble.com as a single line item below operating profit
in accordance with the equity method of accounting. The
Company’s equity in the net loss of Barnes & Noble.com
for fiscal 1999 and fiscal 1998 was ($42,047) and ($71,334),
respectively.
(2) Comparable store sales for B. Dalton stores are determined
using stores open at least 12 months. Comparable store sales
for Barnes & Noble stores are determined using stores open
at least 15 months, due to the high sales volume associated
with grand openings. Comparable store sales for Babbage’s
Etc. are calculated on a 52-week basis, and include sales of
stores that have been open for 12 months.