Barnes & Noble reported weak earnings yet again, with third quarter sales of $502.3 million, down 8.3 percent from last year’s period, and a net loss of $(1.7) million, compared to net income of $0.8 million in the prior year period. The company announced another “significant cost reduction program,” the benefits of which aren’t expected until 2021. Next quarter, the program will result in a $10 million to $15 million restructuring charge. Same-store sales fell 7.3 percent in the retail (college bookstores) division, and wholesale sales declined 14.7 percent. The company now expects full year adjusted EBITDA of between $80 […]
