As usual, Barnes & Noble’s formal quarterly report to the SEC includes some additional details of interest not included in Tuesday’s press release and investor call, though this time around those additional disclosures are pretty modest. In the most recent quarter, BN customers activated just $6.2 million of the credits available to them as part of the first portion of the ebook pricing litigation settlements. That ratifies the inference that a good portion of the $166 million in credits were used shortly after being made available in late March — since as of May 3 BN customers almost half of their […]
Booksellers
Barnes & Noble Has Soft Sales But Smaller Loss As Nook Fades; Asset Separation Presents New Possibilities
Sales fell more than expected by analysts at Barnes & Noble in their fiscal first quarter, ending August 2, down 7 percent to $1.236 billion, but the loss was lower than estimated — with a consolidated net loss of $28.4 million, or 56 cents a share. Tellingly, the company admitted in this morning’s release that their plans to separate the BN retail business from Nook Media has included discussions “with its Nook Media partners to potentially restructure existing agreements” and “with potential third-party partners.” As a result, “Such discussions could affect the structure and timing of the separation.” What that […]
A Tepid Second Quarter for Books-A-Million
Books-A-Million said sales for the second quarter ending August 2 more or less stayed flat, dipping 0.5 percent to $108.3 million. Same-store sales inched up a mere 0.1 percent, while their net loss of $3 million, or 21 cents per share was a considerable improvement on the $9.1 million net loss of a year ago. The quarterly results also include “higher income tax expense due to the recording of a non-cash valuation allowance and the reversal of previously recorded income tax benefits.” President and ceo Terrance Finley said in the release: “In our BAM! retail stores, the continued improvement in […]
Book Sales in Indigo Q1 Grew For First Time in Almost Five Years
Canada’s dominant bookseller Indigo reported fiscal first quarter (for the period ending June 28). Sales increased 5.4 percent, to $180.8 million CA, and the net loss of $14.0 million was an improvement upon the $20.9 million lost at the same time a year ago. Indigo largely attributed the quarter’s revenue growth to the launch of American Girl specialty boutiques (with “outstanding” customer response to the first two boutique stores) and the early timing of Easter, the company also noted that book sales grew “for the first time since fiscal 2010.” Same-store sales for the quarter were up 8.3 percent at […]
Amazon Loses More Money Than Expected; Stock Suffers
Amazon’s stock is down over 10 percent in early Friday trading (a decline of almost $40 a share) after reporting a larger than expected loss for their second quarter — and forecasting bigger losses for the next quarter. Second quarter sales grew 23 percent to $19.34 billion, with an operating loss of $15 million, and a net loss of $126 million, or 27 cents a share. Sales were right on target with analysts’ estimates, but the loss was bigger than the consensus guess of 15 cents a share. That earnings miss plus third quarter guidance of a big operating loss of anywhere between […]
Apple Reports Softer iPad Sales, As iTunes Continues Growth
Apple reported third quarter revenue after the close of market on Tuesday, with sales of $37.4 billion (up 6%, largely due to growth in China), and net profit of $7.7 billion. iPad sales of 13.3 million were down 9 percent (from 14.6 million units a year ago), making approximately 227 million iPads sold since launch in spring 2010. The iTunes store segment (which includes their app stores, as well as “revenue from sales of AppleCare, licensing and other services”) rose 12 percent (or almost $500 million), to $4.485 billion for the quarter. Investors were back and forth at first on […]