Barnes & Noble sets NOOK spinoff by Q1 of next year

The board authorizes the separation of Barnes & Noble's retail operation from the NOOK Media business into two separate public companies, and BKS hopes to have this done by 2015 Q1.

Management sees FY15 comp bookstore sales down in the low-single digits, with college comp sales down a similar amount. EBITDA losses in the NOOK segment are expected to continue to decrease.

The earnings call is set for 10 ET.

Shares +9.9% premarket

Previously: Barnes & Noble misses by $0.13, beats on revenue

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