Categories AlphaGraphs, Earnings, Retail

Barnes & Noble misses Q4 estimates

Barnes & Noble Inc. (NYSE: BKS) missed sales expectations and reported a wider-than-expected loss for the fourth quarter of 2019. Shares were down by 0.45% at market open on Wednesday.   

Total sales of $755 million were down 3.9% from the same period last year. Comparable store sales declined 2.3%.  

Barnes & Noble reports fourth quarter 2019 earnings results

The company reported a net loss of $18.7 million, or $0.26 per share, compared to $21.1 million, or $0.29 per share, last year.

Excluding charges, consolidated EBITDA was $4.6 million in the fourth quarter compared to $6.7 million a year ago.

During the quarter, retail sales dropped 3.5% year-over-year to $738 million while NOOK sales fell 20% to $20 million.

Earlier this month, Elliott Advisors Limited agreed to acquire Barnes & Noble for $683 million. The deal is expected to close in the third quarter of 2019. Although Elliot’s offer valued the company at $6.50 per share, the stock is currently trading at $6.60 per share.

The bookseller has been struggling with the impacts of changing consumer trends and tough competition from Amazon (AMZN), which has been taking market share away from it. The impact is seen in the retailer’s comp-store sales trend which has declined since 2017, barring the third quarter which saw a growth of 1.1%.  

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top