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The loss includes $7.7 million in non-recurring charges. Analysts had expected a loss of 20 centers per share. Sales fell 3.4% to $786.1 million, which is better than analysts had expected. Same-store sales decreased 4.1%. On the chain’s quarterly call, CEO Demos Parneros said to improve sales trends, the retailer is focused on enhancing the customer experience, better curation, increasing the value for its members and investing in marketing to drive traffic. It is also “innovating for the future” through newly designed stores. “We’re excited to open several new prototype stores this year, which will feature a completely new design,” Parneros said. “We see a lot of opportunity for the smaller and more flexible prototype.” Barnes & Noble’s target size for the new stores is 14,000 sq. ft. “We are excited to be launching early fall with the first one of these stores and we intend to get great learning and takeaways from these,” Parneros added.
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