Barnes & Noble Posted Loss for the Second Quarter

Published on: 01 Dec, 2017

On Thursday, Barnes & Noble, Inc. (NYSE: BKS) announced its financial results for the second quarter of fiscal 2018. Shares of the company dropped 10% in early trading after the announcement.

For the second quarter, the company reported a loss of $30.1 million, or $0.41 per share, which dropped from a loss of $20.4 million for the same period last year. The result also missed analysts’ estimates of a loss of $0.26 per share.

Revenue for the second quarter also declined 7.9% to $791.1 million, missing expectations of $812 million.

“Comparable sales improved throughout the second quarter and into November,” Demos Parneros, the Chief Executive Officer of Barnes & Noble, said in the statement on Thursday.

“Book sales continued to strengthen, and we saw improved traffic and conversion trends. As a result of the improving trends, we will continue to place a greater emphasis on books, while further narrowing our non-book assortment,” Demos added.

The company provided guidance for fiscal 2018. Comparable sales are expected to drop in the low single digits. Consolidated EBITDA is expected to be around $180 million for fiscal 2018. In addition, for full-year 2018, the company plans to cut costs by $40 million.


  • 185Views
  • 0Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin


Sign Up for Weekly Updates

Related Posts

06 Jun, 2017 353
20 Jun, 2017 365
27 Jul, 2017 374
27 Jul, 2017 373


There is no comment on this article