Barnes Noble (BKS) has reported 12.44 percent fall in profit for the quarter ended Jan. 28, 2017. The company has earned $70.28 million, or $0.96 a share in the quarter, compared with $80.26 million, or $1.04 a share for the same period last year. Revenue during the quarter dropped 7.99 percent to $1,300.91 million from $1,413.95 million in the previous year period. Gross margin for the quarter contracted 120 basis points over the previous year period to 33.58 percent. Total expenses were 90.10 percent of quarterly revenues, down from 90.53 percent for the same period last year. This has led to an improvement of 43 basis points in operating margin to 9.90 percent.
Operating income for the quarter was $128.79 million, compared with $133.86 million in the previous year period.
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