In the first quarter ended April 30, total revenues at Hastings Entertainment fell 7%, to $115.5 million, and net earnings doubled, to $800,000. Sales at stores open at least a year fell 6.3%.
Sales of books at stores open at least a year fell 0.8% in the quarter, "primarily due to a weaker new release schedule for new books, primarily mass market and trade paperbacks," the company said. But this was partially offset by "an increase in sales of used books and sales of the Nextbook Premium 7 e-reader tablet and related accessories." Not counting the e-reader and accessories, book sales fell 2.2%.
Altogether, the company operates 141 multimedia stores (including three concept stores), six fewer than it did a year ago.