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Number of B&N Superstores Falls
-- 7/6/98
In its quarterly filing with the Securities &Exchange Commission, Barnes &Noble noted that capital expenditures for the first quarter ended May 2 were $19.3 million, down from $26.1 million in the comparable period in fiscal 1998. B&N said the decline was the result of the opening of 14 fewer superstores in the most recent quarter compared to one year ago. In fact, the number of B&N superstores dropped in the quarter, as the chain only opened two while closing four. B&N, which finished the first quarter with 481 superstores, has said it expects to open 60 superstores this year.
The company also noted that sales at Dalton fell 7.7% in the quarter due to store closings and flat same-store sales. During the quarter, B&N closed eight Dalton outlets, ending the quarter with 520 stores.

In its quarterly report, Books-A-Million said that comparable-store sales fell 4.3% in the quarter. Earlier this year, BAM president Clyde Anderson said the chain's 9.1% sales increase was "disappointing." BAM, which said it expects to open 20 new superstores this year, opened only one in the quarter.
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