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NEW YORK (AP) - Barnes & Noble Inc., the largest U.S. bookseller, said Thursday it lost money in its first quarter, hurt by increased discounts for its members. But strong sales of new releases pushed revenue upward.
The loss for the quarter ended May 5 totaled $1.6 million, or 3 cents per share, versus a profit of $10 million, or 14 cents per share, a year ago.
Excluding a 6-cent per share charge related to closing an Internet distribution center and 7 cents per share in expenses associated with a review of its stock-option practices, income was 10 cents per share.
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