Barnes & Noble stock fell more than 17 percent on Tuesday after their poor earnings report, falling roughly $3.20 a share to close at $15.61. But the stock has bounced back a little this morning, moving back over $16 a share as part of a general market rally. One thing missing from yesterday’s release and investor discussion was any characterization of Nook’s share of the ebook market. In written testimony offered as part of the recently Apple ebook pricing trial, one prosecution expert witness is said to have concluded from retailer-supplied data that in February 2013 that Barnes & Noble’s […]
Finance
Indigo’s Plans Include In-Store Boutiques, Apple Products, and International Expansion
Canada’s dominant bookseller Indigo announced a variety of new plans. They will redesign many of their superstores to feature a variety of “store within a store” boutiques, such as Indigo Kids, Indigo Tech and Indigo Home. In 2014, they will begin selling Apple products in 40 of their stores. More vaguely still — but provocative — cheif executive Heather Reisman said they have plans to open bookstores outside of Canada in 2 years, “though she declined to say which markets the retailer is considering.” Similarly to Barnes & Noble (though Indigo headed in this direction earlier), “the bookseller has been […]
Barnes & Noble Has Big Declines At Retail Stores and Nook; Takes $151 Million Charge and Will “Partner” On Color Tablets
Barnes & Noble reported another poor quarter to end fiscal 2013: Sales of $1.28 billion were down 7.4 percent from $1.38 billion a year ago, and the net loss doubled to $118.6 million, or $2.11 per share. Both results were far worse than analysts had forecast (as we covered yesterday). Results “were adversely impacted by Nook inventory charges”–they took $133 million in inventory charges in the fourth quarter on device markdowns and a goodwill impairment charge of $18.3 million in Nook selling and administrative expenses “as recurring losses have led to revisions in its strategic plans.” Even with the discounting, the […]
Looking to Barnes & Noble’s Report
Barnes & Noble reports fourth quarter and full fiscal year earnings on Tuesday morning before the market opens. Analysts have low expectations, looking for sales to fall about 4 percent to $1.33 billion, and predicting another sizable loss of 99 cents per share. The company’s stock has fallen back to earth since the error-plagued TechCrunch report on documents showing possible interest in a Microsoft buyout of Nook–which sent shares up to more than $23 a share in May. (It has given up almost all of those gains, now back under $19 a share–falling again first thing this morning, along with […]
Springer Sold To BC Partners After All For 3.3 Billion Euros
The longstanding efforts by private equity owners EQT and the Singaporean sovereign-wealth fund to sell Springer Science has come to an end after another late-game twist. Just five days after announcing they would walk away from BC Partners’ recent offer to buy the company and pursue a long-contemplated IPO, Springer’s owners closed the deal with BC for approximately €3.3 billion euros. Sources told Reuters that EQT and the Singaporean fund “would keep a stake of about 10 percent in Springer between them, with BC Partners confirming the minority stake. The purchase, which also depends on Springer’s future performance, will be backed […]
Springer Decides on IPO; Pottermore Offers More
The longstanding efforts by private equity owners EQT and the Singaporean sovereign-wealth fund to sell Springer Science have taken yet another twist. They will walk away from BC Partners’ recent offer to buy the entire company for approximately €3.1 billion, and instead will go ahead with the long-contemplated IPO. The WSJ says that share offering “could value Springer Science at more than €3 billion, people familiar with the matter have said previously” — as well it should if they turned down that sum as a full buyout. They have been trying, since last fall, to get a valuation of closer […]