U.S. bookstore chain operator Barnes & Noble said it now expected full-year comparable sales to fall as Americans stay indoors to follow the U.S. elections coverage.
Shares of the company, which had earlier expected same-store sales to stay flat or rise by up to 1 percent, fell as much as 8 percent on Thursday.
Barnes & Noble forecast a low single digit percentage decline in its comparable store sales for fiscal year 2017.
"The current trend can be traced precisely to the current election cycle, which is unprecedented in terms of the fear, anger and frustration being experienced by the public," Founder and Executive Chairman Leonard Riggio said on a conference call.
People are "glued to their TVs and at their desktops," Riggio said.