Barnes & Noble reported earnings for their fiscal second quarter ending October 28, once again reporting mediocre results: Sales and store comps declined, and the loss grew, with both sales and earnings missing analysts’ modest expectations. Shares fell approximately 10 percent in the first hour of trading, back to about $7 a share, on the disappointing results. But there is a glimmer of encouragement. After years of touting everything but books (digital devices, educational toys & games, vinyl records, maker fairs, collectibles, etc.), with limited effect, Barnes & Noble has decided to be a bookseller: In the new release, ceo […]
Booksellers
Barnes & Noble’s Sales Decline Below Expectations Again, and Shares Fall
Barnes & Noble reported earnings for their fiscal first quarter on Thursday morning, through July 29, and the trendlines: Lower sales, lower store comps, and continuing losses, with both sales and earnings missing analysts’ modest expectations, sending shares down almost 12 percent in early trading. Sales of $853 million were $57 million lower, down 6.6 percent, with same-store sales falling 4.9 percent, “as declines in non-book categories outpaced improved book trends during the quarter.” The net loss of $10.8 million was better than the loss of $14.4 million a year ago, though did not improve as much as expected. Nook actually […]
After Bigger Than Expected Loss, Barnes & Noble Education Shares Sink to New Low
It’s been a tough competition to see which branch of the divided Barnes & Noble can register the most disappointing performance, with Barnes & Noble Education taking the lead in reporting disappointing first quarter fiscal 2018 earnings. The consolidated net loss grew to $34.8 million, or 75 cents a share, compared to a loss of $27.9 million a year ago — and against analysts’ expectations of a loss of 55 cents a share. In early Wednesday trading, shares are down more than 15 percent as a result to a new all-time low of about $5.75 a share. That puts their market […]
Merchandise Sales Continue to Lift Indigo
Canadian chain Indigo continues to post good results, driven by their transformation to “cultural department stores.” Sales in their fiscal 2018 first quarter rose $13 million to $206 million (CA), with adjusted EBITDA of $100,000, compared to a loss of $6.1 million a year ago. The overall loss was $7.2 million, compared to a loss of $8.8 million a year ago. As in the past quarters, “higher revenue was driven by continued double-digit growth in general merchandise, particularly in the lifestyle, toy, and paper categories.” They say there was also “modest growth” in book sale, though according to the company’s […]
Trade Gains As Houghton Is Flat Overall
Houghton Mifflin Harcourt reported flat second quarter sales at $393 billion, as billings declined by $17 million. In what is seasonally a weak quarter, they had a higher net loss of ($46.9 million), compared to ($28.4 million) a year ago, and a bigger operating loss, $10 million higher at $31 million. The restructuring plan that saw significant layoffs in May cost $33 million during the quarter — including $14 million for severance and termination benefits. Trade sales were $42.4 million for the quarter, up from $38.7 million a year ago, rising 9.8 percent, andattributed to “Papi and the latest edition […]
“Services” Continue Growth In Modest Quarter for Apple
Apple reported fiscal 2017 third quarter earnings, with sales $45.4 billion (up $3 billion) and net income of $8.7 billion (up from $7.8 billion a year ago). Traditionally one of Apple’s lighter quarters, those results were still ahead of analysts’ expectations — and the company’s own guidance for the next quarter was also stronger than expected, boosting the stock price. It used to be fun to watch Apple’s “services” revenue — which includes their media sales — grow and ultimately overtake Amazon’s “media sales” business, but then Amazon stopped breaking out media sales in 2017 and moved to charting subscription […]