Barnes & Noble Education reported earnings for the first fiscal quarter of 2021 ending August 1, with sales of $204 million, compared to $320 million in last year’s quarter, a decline of 36 percent. The net loss steepened to $(46.7) million, compared to $(32.2) million last year. With the majority of campus bookstores closed all quarter, retail sales decreased by $116 million compared to the prior year, with comparable store sales of approximately $107 million, down 42.8 percent. “Physical textbook sales declines were partially mitigated by the shift to digital textbook products,” said the release. Meanwhile, furloughs and other cost […]
