Booksellers

Barnes & Noble Education released only preliminary results for their second quarter ended October 26, historically their biggest and most profitable period. Sales are expected to be “approximately flat” — compared to a weak performance a year ago, when they reached $617 million (down from $627 million the prior year and well below pre-pandemic levels of $772 million in 2019). They estimate net income registered between $44 million and $49 million, compared to $25 million last year, “driven by comparable store top-line growth and continued improvements in cost management.” After a first quarter loss of $(99.5) million, the company is […]

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 […]

UK-based retailer WH Smith remains “clear and consistent” in their strategy and results, showing a regular modest decline: Sales for the six months ending February 29 of £256 million were down by £10 million (just under 4 percent) and profit of £22 million was down by £2 million. They will be expanding an in-store boutique initiative with Toys ‘R Us, adding 30 store-in-stores by the end of the year, and they continue to make clear that their flexible lease portfolio leaves them willing and able to close locations if they don’t like the terms: “We only renew a lease where […]

Waterstones’ primary holding company recently reported full fiscal year results through the end of April 2023, showing increased sales but much lower profits, following the acquisition of Blackwell’s. Sales reached £452.5 million, up from £400 million in the previous fiscal year — but operating profit fell sharply to £13.9 million, down from £57.6 million the prior year. The lower earnings included 15.4 million in “exceptional items.” The company says they absorbed a £7 million impairment charge on Blackwell’s carrying value after acquiring it in August 2022. The report says that, “disruptions to the distribution centre, caused by the implementation of […]

Indigo released its earnings report for the quarter ended December 30, reporting sales of $370.6 million Canadian ($272.3 million USD), down 12 percent from $422.7 million in the same period the year before. The company continues to attribute the downturn to “disruptions throughout 2023” that actually happened before the reporting period, including a cyber attack last February and “the pre-mature launch of a new digital platform.” When asked on a call with investors on Friday, CEO Heather Reisman declined to share what the problems with the digital platform were. Of the online business, she did say, “it has certainly stabilized […]

UK retail chain WH Smith released a preliminary trading update for the period ended January 20, reporting overall sales up 8 percent. The upswing is driven by the company’s travel stores, which grew 13 percent. High street bookstore sales, on the other hand, fell 4 percent from last year, as expected. “We maintained good stock availability and we exited Christmas with a clean stock position,” the company said in a release. “We are on track to deliver our targeted full year cost savings of £10m.” “The Group is trading well and is in its strongest ever position as a global […]