Barnes & Noble Cuts Outlook

Barnes & Noble Inc. posted a wider fiscal first-quarter loss as the bookseller cut its sales outlook and agreed to settle a longstanding California case involving the collection of state sales and use taxes on Internet transactions.

The bookselling giant, which is reportedly mulling whether to make an offer for struggling rival Borders Group Inc., reported a net loss of $2.2 million, or four cents a share, for the quarter ended May 3, compared with a year-earlier net loss ...