Barnes & Noble IncNYSE
Looking Past The Obvious To See Why History Will Rhyme: Barnes & Noble Edition
Laughing Water Capital • 15 Comments
Laughing Water Capital • 15 Comments
Yesterday, 4:13 PM
Tue, Nov. 29, 10:06 AM
- Cyber Monday online sales increased 12.1% to $3.45B, according to an updated tally from Adobe.
- Mobile spending was up 34% Y/Y to $1.07B to account for 31% of sales.
- Conversion rates were highest for desktops at 6.3%, while smartphones (2.8%) and tablets (5.1%) were still above holiday averages.
- Holiday shopping season sales through November 28 are up 7.6% to $39.97B.
- The S&P Retail ETF (NYSEARCA:XRT) is up 1.81% over the last week to outpace broad market averages. The list of outperformers over the last week -- which factors in the pre-Thanksgiving buzz, Black Friday reports, and Cyber Monday numbers -- includes Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Hasbro (NASDAQ:HAS), Mattel (NASDAQ:MAT), Staples (NASDAQ:SPLS), DSW (NYSE:DSW), Barnes & Noble (NYSE:BKS), Dollar Tree (NASDAQ:DLTR), Dollar General (NYSE:DG), Burlington Stores (NYSE:BURL), The Children's Place (NASDAQ:PLCE) and Best Buy (NYSE:BBY). An interesting sidenote is that all the retail names listed above topped the return of Amazon for the 5-session period.
Mon, Nov. 28, 7:11 AM
- Barnes & Noble (NYSE:BKS) matches the promotional cadence set by retail heavyweights Amazon and Target with a 15% off site-wide deal today.
- Cyber Monday promotions also include even bigger discounts on toys and music products.
- Comparable sales fell 3.2% for B&N in Q3. The company was one of the most vocal in the sector about the negative impact on sales from election fixation during the period.
Tue, Nov. 22, 9:17 AM
Tue, Nov. 22, 8:54 AM
- Barnes & Noble (NYSE:BKS) reports same-store sales fell 3.2% in FQ2, a mark that was better than the 5% drop expected by analysts.
- Retail sales were down 3.5% Y/Y to $830.72M and Nook sales fell 19% to $35.04M. Store traffic fell off from a year ago.
- "While we are pleased to have improved our performance due to expense reductions, we did experience sluggish sales, which we believe are directly related to the election cycle," notes CEO Len Riggio. The election excuse hasn't held up consistently across retail based on sector-wide reports.
- The company expects same-store sales to be down in the mid single digits for FY17. Full-year EBITDA of $240M to $280M is expected for the retail business and a loss of $30M to $40M in seen for Nook.
- Previously: Barnes & Noble beats by $0.05, misses on revenue (Nov. 22)
- BKS +6.11% premarket to $12.15.
Tue, Nov. 22, 8:32 AM
Tue, Nov. 22, 7:00 AM
- Barnes & Noble (NYSE:BKS) appoints Demos Parneros to serve as its new COO, effective immediately.
- The company says he will work closely with Leonard Riggio on all aspects of operations including stores, merchandising, e-Commerce, systems and real estate.
- Parneros joins Barnes & Noble from Staples, where he was President, North American Stores & Online.
- Source: Press Release
Mon, Nov. 21, 5:30 PM
Wed, Sep. 14, 3:03 PM
Wed, Sep. 14, 2:28 PM
Thu, Sep. 8, 3:32 PM
- Barnes & Noble (BKS -3.6%) founder Leonard Riggio didn't hold back during today's earnings call, saying the retail climate is the worst he has seen in 50 years. Riggio was handling the Q&A with analysts after CEO David Boire was exited last month.
- The B&N Chairman wasn't the first to blame his company's soft patch of sales on the divisive election.
- "The current trend can be traced precisely to the current election cycle, which is unprecedented in terms of the fear, anger and frustration being experienced by the public," stated Riggio.
- "The preoccupation with this election is keeping them in home, glued to their TVs and at their desktops," he added.
- Barnes & Noble's Q2 was headlined by a 6.6% drop in revenue.
- Barnes & Noble earnings call transcript
Thu, Sep. 8, 8:48 AM
- Barnes & Noble (NYSE:BKS) reports retail sales fell 6.1% to $881.7M in Q2. Nook sales were down 24.5% to $41M.
- Comparable sales were down 6% during the quarter to miss the company's expectation.
- Retail-level EBITDA was down sharply due to the lower level of sales.
- B&N says it now expects FY17 comparable store sales to decline at a low single digit rate.
- Previously: Barnes & Noble beats by $0.06, misses on revenue (Sept. 8)
- BKS -5.26% premarket to $11.70 to cut deeply into gains piled up this week after a positive piece on BKS in Barron's.
Thu, Sep. 8, 8:38 AM
Wed, Sep. 7, 5:30 PM
Tue, Sep. 6, 10:03 AM
- Barnes & Noble (NYSE:BKS) is up 7.7% after investors pay some attention to a favorable writeup in Barron's which called out the stock as undervalued.
- Shares of BKS spinoff Barnes & Noble Education (NYSE:BNED) are up almost 2%. The college bookstore chain trades at roughly the mid-point of its 52-week range of $8.15 to $15.49.
- Previously: Barnes & Noble tapped to rally with Death-by-Amazon fears fading (Sept. 5)
Mon, Sep. 5, 11:24 AM
- Barnes & Noble (NYSE:BKS) looks like an appealing value play in the retail sector, according to a weekend profile of the company posted in Barron's.
- The positive spin on the bookstore chain is backed by Craig-Hallum analyst Alex Fuhrman (Buy rating/$17 PT) who notes that the Death-by-Amazon fears are overdone.
- The company's has diversified its revenue mix and a low level of debt makes it a potential target of a larger retailer (Starbucks?).
- SA contributor Nelson Barragan was early to see the upside with BKS, recommending the stock as a long-term buy back in February when shares were still languishing in the single digits.
- B&N by the numbers: Dividend yield 5.20%, price-to-sales 0.2, 2017 price-to-earnings 21.1, 52-week return -27%.