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Jul. 20, 2015, 8:38 AM
- Barnes & Noble (NYSE:BKS) appoints Frederic Argir as Chief Digital Officer of the company.
- The role will include oversight of B&N's Nook business and e-commerce strategy.
- The current president of the Nook consumer business is stepping down.
- Most analysts expect the company to streamline the Nook business in order to reduce losses.
- Shareholders of BKS are less than two weeks away from a distribution of Barnes & Noble Education (OTCQB:BNET).
- Previously: Dividends back on at Barnes & Noble (Jul. 14 2015)
Jul. 15, 2015, 2:00 PM
- Barnes & Noble (BKS -1%) announces the new Harper Lee book set a record for first-day sales.
- The company expects Go Set a Watchman to be its best-selling book of the year.
- Lee's first book, To Kill a Mockingbird, jumped to number two on the company's sales list off renewed interest for the 1960 classic.
- Strong book buzz has been a significant factor for B&N's earnings in past years with the Fifty Shades of Grey series and Harry Potter collection notable examples.
- Previously: New Harper Lee book sales passing records (Jul. 14 2015)
Jul. 14, 2015, 1:12 PM
- The board at Barnes & Noble (BKS +1.5%) formally approved the spinoff of Barnes & Noble Education (OTCQB:BNET).
- The distribution of shares is set for August 2 to shareholders of record July 27.
- Barnes & Noble is also firing back up a dividend. A dividend of $0.15/share goes out quarterly beginning on August 17.
- The company pulled its dividend back in 2011 amid steep losses with the Nook division.
- BKS +22.2% YTD.
Jul. 8, 2015, 1:52 PM
Jul. 2, 2015, 8:12 AM
- Ronald Boire became permanent CEO of Sears Canada (NASDAQ:SHLD) just a few months back, but now he's headed to Barnes & Noble (NYSE:BKS) as that company's CEO, effective September 8, after the spinoff of the company's education unit.
- Current CEO Michael Huseby will become executive chairman of Barnes & Noble Education.
- Chief Merchandising Officer Jaime Carey is promoted to COO, effective immediately.
Jun. 29, 2015, 7:29 AM
- Barnes & Noble Education (BNED) will be spun off to shareholders of Barnes & Noble (NYSE:BKS) at a rate of 0.632 shares per share of BKS.
- The college bookstore business generated sales of $1.772B in FY15 and EBITDA of $84.1M.
- Comparable store sales were up 0.1%.
- The 724 college locations for Barnes & Noble Education marks a national reach of 24% of all college students.
- SEC Form S-1
Jun. 25, 2015, 9:12 AM
- Barnes & Noble (NYSE:BKS) announces it expects to spin off its education businesses by the end of August into a separate company.
- The split of B&N has been viewed as a potential catalyst for share price.
- Current CEO Michael Husbey will be the CEO of Barnes & Noble Education when it separates.
- More details are expected to be unveiled during a conference call at 10:00 AM ET.
- Previously: Barnes & Noble beats by $0.02, revenue in-line
- Previously: Barnes & Noble higher after Nook drag reduced
- BKS +2.62% premarket.
Jun. 25, 2015, 8:42 AM
- Barnes & Noble (NYSE:BKS) announces all three of its segments saw sales decline in FQ4.
- EBITDA was higher for the quarter as the Nook loss was cut to $14.8M from $56M a year ago.
- Core comparable-store sales for the retail segment fell 0.5%.
- Comparable-store sales for the college segment were up 6%.
- Guidance: Retail core comparable bookstore sales are expected to rise 1% in FY16. EBITDA losses for the Nook segment are expected to decline again.
- BKS +2.54% premarket to $27.00.
Jun. 25, 2015, 8:35 AM
- Barnes & Noble (NYSE:BKS): FQ4 EPS of -$0.37 beats by $0.02.
- Revenue of $1.18B (-10.6% Y/Y) in-line.
Jun. 24, 2015, 5:30 PM
Jun. 19, 2015, 2:03 PM
- Barnes & Noble (BKS +1.9%) announces the addition of Ann-Marie Campbell and Paul Guenther to its board ahead of the planned split by the company into two separate entities.
- Campbell is a top Home Depot exec, while Guenther has deep financial services experience.
- The spinoff of the college bookstore business is expected to be executed before the end of August.
- Shares of B&N are up 21% over the last month on optimism the sum of the parts is greater than the whole.
- Earlier this month, Barron's pitched the case that shares of BKS are worth $40 ahead of the split.
Jun. 6, 2015, 12:13 PM
- Barnes & Noble (NYSE:BKS) is a screaming buy ahead of the planned spinoff of the company's education business, reasons Barron's.
- Working off the EBITDA B&N churned up last year, Barron's estimates the retail stores are worth $22 a share, while the education business is $14 a share and another $4 a share sits in cash.
- That $40 valuation on BKS compares to a Friday close of $24.68 and doesn't apply a premium to the retail bookstore and education businesses becoming more efficient after they are freed up.
- Craig-Hallum Capital Group agrees that B&N is undervalued as the Nook overhang scares off growth investors and Wall Street analysts alike.
- SA contributor Andriy Blokhin has a breakdown on Barnes & Noble that dives into fundamentals.
- Spinoff details: Barnes & Noble issues details on education business spinoff (June 4)
Jun. 4, 2015, 6:28 PM
- Barnes & Noble (NYSE:BKS) is out with an amended SEC filing covering the spinoff of its education business.
- The company reports sales of $1.75B in 2014 and net income of $34.52M for the education services and products.
- Growing the existing bookstore business and building a digital education platform will be two areas of focus for B&N Education when it's set free from its parent company.
- The trading symbol for Barnes & Noble Education will be BNED.
- SEC Form S-1
Apr. 13, 2015, 9:59 AM
Mar. 11, 2015, 1:07 PM
- Barnes & Noble (BKS +5%) is higher on stronger volume a day after reporting earnings.
- The company is closing fewer bookstores this fiscal year than expected and showed an above-consensus comp which has reset some expectations.
- The B&N retail comp has now increased for 3 straight quarters.
- During the firm's earnings call, execs indicated the company hasn't given up on the Nook business.
- Earnings call transcript
- Previously: Barnes & Noble misses by $0.30, beats on revenue (March 10)
- Previously: Barnes & Noble records positive bookstore comp, Nook unprofitable again (March 10)
Mar. 10, 2015, 9:07 AM
- Barnes & Noble (NYSE:BKS) reports comparable-store sales at its retail bookstore chain rose 1.7% in FQ3.
- Revenue dropped 1% for the bookstore business on a smaller store count.
- The college segment recorded revenue +7.2% to $521M and EBITDA -20% Y/Y to $28M. Investing in the digital side of the business was a factor.
- Losses at the Nook segment were narrowed to $29M, despite a sharp slide in revenue.
- Guidance: B&N expects the retail bookstore comp to be in the negative low single-digits in FY15 and Nook to be unprofitable again.
- Previously: Barnes & Noble misses by $0.30, beats on revenue
- BKS -2.45% premarket to $24.25.
Barnes & Noble Inc is a booksellers and a content, commerce and technology company providing customers access to trade books, textbooks, magazines, newspapers and other content across its multi-channel distribution platform.
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