Barnes & Noble Education released preliminary results for the fiscal year ended April 27. Sales are expected to comprise $236 million for the fourth quarter — compared to $242 million a year ago — and the net loss from continuing operations was roughly $28.5 million, capping yet another year of losses. For the full year, they expect sales to register $1.567 billion, compared to $1.543 billion the year before. The net loss from continuing operations is estimated at $(63) million (with no data for now on the total loss), compared to $(90) million a year ago. Non-GAAP adjusted EBITDA was […]
Archives for May 2024
Imprints: Headline Press
Headline Publishing Group in the UK is launching a new nonfiction imprint called Headline Press with a focus on politics, current affairs, history, personal development, popular science and memoir. Publisher Martin Redfern will lead, with senior commissioning editor Bianca Bexton, and assistant editor Holly Purdham also joining. The first title publishing this summer will be Power to the People by former Oxfam ceo Danny Sriskandarajah. Redfern says, “The launch of Headline Press is an exciting moment which provides clarity and identity to Headline’s serious non-fiction publishing. Headline’s guiding spirit is to publish books that people want to read, and combining these […]
People 5/23
Simon & Schuster Reported to Have Weak Fourth Quarter
Simon & Schuster provided “a financial snapshot” to its lenders ahead of fully audited results for the fourth quarter of 2023 and the first quarter of 2024 that reportedly show full-year 2023 sales fell by 8 percent, Bloomberg reports. That would represent a big fall off in the final two months of 2023. It suggests fourth quarter sales were approximately $226 million — down from $314 million in 2022, and $268 million in 2021. Paramount Global indicated sales in October were $101 million, which would mean sales for the last two months of the year were $125 million. While that’s […]
Bloomsbury Breaks Records
Bloomsbury released preliminary results for their full year ended February 29, with sales up 30 percent to £342.7 million. Profit before taxation and highlighted items was £48.7 million, a 57 percent increase. Both sales and earnings set a record for the company. In a release, CEO Nigel Newton said, “This dramatic increase arises from our entrepreneurial diversification strategy which has forged a portfolio of portfolios combining consumer and academic publishing across formats, territories and subject areas, a resilient model delivering long-term success.” But that’s really not the story the results show. The company’s growth comes from consumer sales—driven by Sarah […]
BNED Stock Is A Screaming Meme
Barnes & Noble Education is in the process of being recapitalized and taken over by Immersion Corporation, with support from a few major lenders and stockholders, after failing to make money for years and piling up debt. But recent news of some unsuccessful maneuvering by Greenhaven Capital coupled with the recent return of RoaringKitty and meme stock fever has turned BNED shares into a surprising meme roller coaster of its own. The movement is inflamed by a general misunderstanding of the pending takeover and the company’s weak position, along with additional misunderstanding of the company’s historical connection to the other Barnes […]