Barnes & Noble Education shared preliminary results for the year ended April 29, yet again underperforming their modest expectations. As recently as last quarter they were still expecting $20 to $30 million in adjusted EBITDA for the fiscal year. Alas, no; they now expect to show a loss of $(5) to $(10) million “due to lower than expected fourth quarter revenue and lower fourth quarter gross profits,” as consumers move away from buying physical textbooks in favor of digital materials. (Our standing reminder: The last time the company recorded a profit was fiscal 2017. They still have the same ceo.) […]
