Feb. 26, 2014, 12:05 AM
Feb. 25, 2014, 5:30 PM
Feb. 21, 2014, 5:04 PM
- There's plenty of skepticism G Asset Management has the resources to make good on its latest Barnes & Noble (BKS) acquisition offer. One major reason: A 2012 Form D filing indicating the firm raised only $1.75M in an offering.
- David Faber: "[G Asset] runs very little money and I mean very little. Not sure if he lives at home with his parents, but you get the idea."
- B&N closed at $17.69, nearly 20% below G Asset's offer price.
Feb. 21, 2014, 1:43 PM
- G Asset Management has offered to buy a 51% stake in Barnes & Noble (BKS +7%) at a $22/share valuation, or (alternatively) a 51% stake in the Nook division at a $5/share valuation. B&N shares have jumped to the $18 range in response.
- The money manager adds its offer is subject to due diligence and "the obtaining of necessary financing," as well as access to B&N's credit facility and balance sheet cash. It thinks "substantial shareholder value" would be created if the Nook segment was separated from B&N's profitable units.
- Two years ago, G Asset offered to buy B&N's college bookstore business for $460M.
Feb. 10, 2014, 3:55 PM
Jan. 9, 2014, 9:42 AM
- New Barnes & Noble (BKS +2.7%) CEO Michael Huseby gives an early peek at his thinking on what the company should do with Nook in an interview with the WSJ.
- The exec says the company is "dedicated" to providing consumers the digital devices, but notes the company will look to leverage costs with an outside partnership. That last part could mean that B&N is open to letting a consumer electronics manufacturer build the devices for the company.
- Husbey says the ultimate goal is to "de-risk" the business plan.
- Previous: BKS holiday sales.
Jan. 9, 2014, 9:15 AM
- Barnes & Noble (BKS) reports its holiday sales fell 6.6% to $1.1B as store closures took a toll.
- Comparable store sales fell 5.5%, a mark which improves to -0.2% if Nook is backed out.
- Amid a sluggish retail season, the revenue kicked up by the company's bookstores was decent.
- Digital content sales dropped 27% Y/Y during the period with the company lacking new device introductions.
- BKS +1.4% premarket
Jan. 8, 2014, 9:06 AM
Dec. 16, 2013, 7:09 AM
- Barnes & Noble (BKS) faces a tough challenge at its bookstores this holiday season due to the late Thanksgiving and an absence of any blockbuster titles.
- Last year, book sellers received a healthy boost from the popularity of the Fifty Shades of Grey and Hunger Games series.
- The good news for Barnes & Noble is that some analysts think the formidable impact of Amazon and digital sales on physical bookstores has hit a saturation point with consumers to put the book industry closer to a state of equilibrium.
Dec. 13, 2013, 10:19 AM
- Nobody knows toys like Lego which means anxiety emanating from the Denmark-based company might be cause for concern amongst retailers.
- Though consumers have stepped up spending on automobiles, housing, and electronics - the early reads on holiday spending have been poor.
- Lego CFO John Goodwin says this year is the "greatest stress test" the company has seen as it banks on the theory that consumers will shop late and shop often this holiday season.
- He adds it's difficult to ascertain why consumers are holding off so much this year.
- Retailers carving out a decent amount of space for Lego include Kmart (SHLD), Target (TGT), Wal-Mart (WMT), and Barnes & Noble (BKS).
Dec. 12, 2013, 3:22 PM
- The unexplainable toy juggernaut that is known as Elf on the Shelf is showing massive sales gains again at retail outlets as the little red-adorned feller becomes even more entrenched as a holiday season tradition for households with children.
- A self-financed book by a mother and daughter team in 2005 has evolved to a retail winner with more products and tie-ins being developed. One online British retailer reports sales gain of 900% for Elf on the Shelf products this year.
- Target (TGT), Pottery Barn (WSM), and Barnes & Noble (BKS) get a piece of that action as preferred retailers with expanded kiosks.
Dec. 10, 2013, 5:42 PM
Dec. 9, 2013, 9:53 AM
- Shares of Barnes & Noble (BKS +6.7%) take off as a couple of analysts back the company to come out the other side of a SEC probe over accounting in decent shape.
- The somewhat twisted logic is that the company's retail bookstore business may be in even better shape than realized if it's been bearing more Nook-related costs than it should have been.
Dec. 6, 2013, 11:45 AM
- Shares of Barnes & Noble (BKS -5.2%) are under selling pressure after the company discloses it is the subject of a SEC probe on its accounting practices.
- The company was notified on October 13 that the SEC would investigate the restatement of earnings announced on July 29, 2013. A different matter related to allegations of an ex-employee on how IT expenses are reported for Nook and the retail segment will also be looked into.
- SEC Form 10-K
Dec. 3, 2013, 3:34 PM
- Wal-Mart (WMT +0.1%) says it had its best five-day stretch ever for online sales as its website processed over a billion page views during the period.
- The retailing giant will keep up an aggressive promotional stance this week following Cyber Monday with over 200 online specials every day for consumers.
- It's a move that bites into the margins for pressured retailers such as Barnes & Noble (BKS -0.2%), Sears Holdings (SHLD -6.7%), and hhGregg (HGG +1.1%) which depend on key categories that Wal-Mart is increasingly disrupting.
Nov. 26, 2013, 11:15 AM
- E-commerce sales this holiday season will rise 14% to 17% this year to top the marks of the last three years, forecasts Jefferies. Cyber Monday sales are tapped to see +20% Y/Y sales growth.
- The ongoing channel shift away from brick-and-mortar becomes even more pronounced when auto, restaurants, and gas are backed out of retail sales tallies. Apparel sellers are forecast to be the hardest hit, although on-trend names such as Under Armour (UA), Macy's (M), Gap (GPS), and Lululemon (LULU) should outperform.
- The strong Cyber Monday rush could hurt foot-traffic reliant chains such as TJX Companies (TJX), J.C. Penney (JCP), Barnes & Noble (BKS), Ultra Salon (ULTA), and DSW (DSW) - according to some trends dug up by Placed.com.
- The positive read on e-commerce sales bodes well for Amazon (AMZN), Retailmenot (SALE), eBay (EBAY), Overstock. com (OSTK), and Blue Nile (NILE) - although high expectations are already likely factored into share price.
- Related ETFs: XLY, VCR, IYC, SCC, FXD, UCC, RCD, FDIS, PSCD, PEZ.
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.
Other News & PR