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Contact: Mary Ellen Keating, Senior Vice President
Corporate Communications, Barnes & Noble, Inc.                                  
(212) 633-3323



Comparable Store Sales Increase 2.0%
Reaffirms Full-Year Guidance

New York, NY (January 6, 2005)—Barnes & Noble, Inc. (NYSE: BKS), the world’s largest bookseller, today reported holiday sales:

Barnes & Noble store sales were $1,040.5 million for the nine-week holiday period from October 31, 2004 to January 1, 2005, an increase of $55.7 million, or 5.7 percent over the same period in fiscal 2003.  Comparable store sales increased 2.0 percent for the same period. For the 48 weeks ended January 1, 2005, Barnes & Noble store sales rose 7.0 percent to $3,807.8 million from $3,560.2 million, while comparable store sales increased 3.3 percent.

B. Dalton sales were $50.6 million for the nine-week period, a decrease of ($14.7) million, or (22.5) percent from the same period in fiscal 2003, primarily due to the closing of 55 stores.  Comparable store sales decreased (2.8) percent for the same period.  For the 48 weeks ended January 1, 2005, B. Dalton sales decreased ($40.4) million to $166.2 million or (19.6) percent, while comparable store sales decreased (2.0) percent.

Barnes & Noble.com sales of $105.5 million for the nine-week period increased $2.8 million, or 2.7 percent over the same period in fiscal 2003.  For the 48 weeks ended January 1, 2005, Barnes & Noble.com sales declined (1.1) percent to $373.9 million from $378.1 million.

Based on the holiday sales results, the company reaffirms previously announced fourth-quarter and full-year guidance.  Consolidated earnings per share guidance is projected to be between $1.51 and $1.56 for the fourth quarter and $1.96 and $2.04 for the full year, excluding the second-quarter debt redemption charge of $0.11 per share. 

Full-year earnings for 2004 and guidance for 2005 will be issued on or about March 17, 2005.

About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS), the world's largest bookseller and a Fortune 500 company, operates 840 bookstores in 50 states. For the third year in a row, the company is the nation?s top retail brand for quality, according to the EquiTrend® Brand Study by Harris Interactive®. Barnes & Noble conducts its online business through Barnes & Noble.com (barnesandnoble.com), one of the Web?s largest e-commerce sites and the number-one brand among e-commerce companies, according to the latest EquiTrend survey. In addition to its retail operations, Barnes & Noble is one of the largest book publishers in the world. Its subsidiary, Sterling Publishing, publishes over 1,300 new titles a year and has an active list of over 6,000 titles.

General information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company's corporate Web site: http://www.barnesandnobleinc.com.


This press release contains “forward-looking statements.”  Barnes & Noble is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements. These forward-looking statements are based on currently available information and represent the beliefs of the management of the company.  These statements are subject to risks and uncertainties that could cause actual results to differ materially.  These risks include, but are not limited to, general economic and market conditions, decreased consumer demand for the company’s products, possible disruptions in the company’s computer or telephone systems, possible work stoppages or increases in labor costs, possible increases in shipping rates or interruptions in shipping service, effects of competition, possible disruptions or delays in the opening of new stores or the inability to obtain suitable sites for new stores, higher than anticipated store closing or relocation costs, higher interest rates, the performance of the company’s online and other initiatives, the successful integration of acquired businesses, unanticipated increases in merchandise or occupancy costs, unanticipated adverse litigation results or effects, product shortages, and other factors which may be outside of the company’s control.   Please refer to the company’s annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially.