Looking Past The Obvious To See Why History Will Rhyme: Barnes & Noble Edition
12 Quarters • 15 Comments
12 Quarters • 15 Comments
Aug. 24, 2015, 5:16 PM
- In a filing, Barnes & Noble (NYSE:BKS) says it's elected Ronald Boire to its board, coinciding with his rise to the CEO post on Sept. 8.
- The move sets the company's board at nine members after he starts. it's set its proxy statement for an Oct. 15 annual meeting, at which three other directors will be elected.
- Michael Huseby -- taking the reins at Barnes & Noble Education (OTCQB:BNET) -- earned a base salary of $1.2M in fiscal 2014, along with $2.6M in performance-based incentive.
Aug. 3, 2015, 2:37 PM
Aug. 3, 2015, 12:46 PM
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
Barnes & Noble, Inc. provides easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. The company operates through three operating segments: B&N Retail, B&N College and NOOK. The B&N Retail segment includes the eCommerce... More
Industry: Specialty Retail, Other
Country: United States
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