Barnes & Noble said Thursday that persistent weak spending by consumers led to a wider first-quarter loss, but its results beat analysts' estimates and the bookseller raised its profit forecast for the year.
The nation's largest bookstore chain has eliminated jobs, cut costs and bought e-book retailer Fictionwise to try to capture some of the growing market for electronic books. But the company has struggled as shoppers buy fewer books and music or turn to online or discount competitors like Amazon for purchases.
New York-based Barnes & Noble lost $2.7 million, or 5 cents per share, for the quarter ended May 2. That compares to a loss of $2.2 million, …
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