Barnes & Noble Education also reported first quarter fiscal 2017 results Thursday morning, though their mediocre showing was more in line with expectations. Fulfilling our assessment as “the growth company that doesn’t grow,” sales of $239 million were flat even with the addition of 33 new stores “with estimated annual sales of $110 million.” That’s because same-store sales fell 2.8 percent, in particular because textbook sales declined 6.8 percent. Comments from ceo Max Roberts underscored that BN College is officially a student merchandise chain that also sells textbooks rather than the inverse (italics are ours): “The comparable store sales decline is the […]
