Barnes & Noble Education reported results for the first quarter ended July 27—a typically soft period—with sales of $263.4 million, compared to $264.2 million last year, down slightly due to the closing of underperforming stores and below analysts’ modest expectations. Those closures, plus “lower selling and administrative expenses,” helped with the quarter’s adjusted EBITDA, which improved by $5.2 million to $(20.7) million. But the actual net loss was a big $(99.5) million, up from $(50.4) million, from costs related to the company’s refinancing plan, “including a non-cash charge of $(55.2) million due to the extinguishment of debt caused by the […]
