In a series of complex SEC documents, Barnes & Noble indicated that they have paid Microsoft $62.5 million to buyback their 16.8 percent share in Nook Media LLC, along with 2.74 million shares of BN stock (valued at $62.5 million, though that stock is worth less already). That implies a “fair market value” of about $700 million for Barnes & Noble College and Nook combined. Given that it cost Barnes & Noble $431 million to purchase College from the Riggio family (the last payment for which was just made in September), you can infer that puts a value on Nook […]
Booksellers
Barnes & Noble Disappoints Again with Lower Earnings; Terminates Microsoft Nook Partnership
There was a suspicious spate of financial articles the last couple of days tipping the idea that the worst is over at Barnes & Noble and Nook and earnings would be up — but the results announced before the opening of the market on Thursday proved those hopeful stories wrong again. Analysts hoped earnings per share would more than double to 31 cents — but instead consolidated net earnings fell $1 million, to 12 cents a share. Analyst John Tinker at Maxim Group had convinced the WSJ Nook would only lose $14 million (they lost almost 3 times that) on […]
Sales Uptick As Losses Flatten in Books-A-Million Third Quarter
Books-A-Million said sales for the third quarter ending November 1 increased slightly from the previous year, up 1.2 percent to $101.2 million. Same-store sales inched up an equivalent amount, 1.8 percent, while their net loss of $6.9 million, or 50 cents per share was almost exactly the same amount lost in last year’s third quarter. President and ceo Terrance Finley said in the release: “We delivered solid sales performance in our retail stores as we built on the results from the prior quarter. We saw positive comparable sales in the largest categories in our core book business led by Kids […]
Amazon Misses Wall Street’s Expectations On Bigger Loss; Shares Decline
Amazon announced third quarter sales after the close of the market on Thursday afternoon, missing analysts’ expectations on both sales and earnings and disappointing on guidance for the next quarter as well. The stock dropped sharply in after-market trading Thursday, down over 11 percent (or $35 a share), though in regular Friday morning trades the decline has been less severe — down about 7 percent or $21.50 a share. Amazon’s sales still grew by 20 percent, to $20.58 billion (though as we reported earlier in the day, analysts were looking for $20.84 billion) and the net loss of $437 million (or 95 cents […]
Bloomsbury Declines In First Half on Lower Adult Trade Sales
Bloomsbury reported weak sales and earnings for the first half of 2014, with revenues down 5 percent (or £2.6 million) to £46.6 million, and pre-tax profit down 26% (or £.6 million) to £1.7 million. The company blamed the comparison to an “exceptional” first half last year on the release of Khaled Hosseini’s And the Mountains Echoed, and said their sales will be “significantly second half weighted.” At the same time, however, the company tried to persuade investors to get excited about the new trilogy of Harry Potter movies due in 2016 through 2020 to balance out the current declines. All […]
Apple Celebrates Another Big Quarter
Apple reported fiscal fourth quarter results after the close of the market on Monday, with a strong launch of the new iPhones moving over 39 million units and taking company sales to $42 billion for the quarter, up 12 percent compared to a year ago. iPad sales declined 13 percent in units, at 12.3 million devices for the period, but ceo Tim Cook called that a “speed bump” in the investor conference call. Apple has now sold approximately 239 million iPads since their launch in 2010. In the category we keep a close eye on — what they call iTunes/Software/Services […]