Barnes & Noble Education filed for an extension with the SEC, noting that they can’t file their annual financial report “within the prescribed time period without unreasonable effort or expense.” The company has launched an investigation due to “certain information regarding the recording of cost of digital sales.” The investigation is ongoing, but the company believes that there “may have a potential overstatement of up to $23 million in the aggregate to its accounts receivable balance” due to “overstatements and understatements to its cost of sales during the fiscal years 2024 and 2025, impacting results of operations in those periods.” […]
