Looking Past The Obvious To See Why History Will Rhyme: Barnes & Noble Edition
Laughing Water Capital • 15 Comments
Laughing Water Capital • 15 Comments
Sep. 10, 2015, 1:04 PM
- Barnes & Noble (NYSE:BKS) is up 7.0% to help take some of the sting out of yesterday's brutal post-earnings drubbing.
- Analysts note the ongoing losses at B&N puts the pressure on management to determine if more stores closures are needed and to come up with a "coherent" digital strategy.
- Shares of Barnes & Noble, which traded over $29 in July, sunk to as low as $11.45 yesterday on a large volume spike.
Sep. 9, 2015, 12:44 PM
Sep. 9, 2015, 9:05 AM
- Barnes & Noble (NYSE:BKS) reports retail core comparable bookstore sales rose 1% in FQ1.
- Segment sales: Retail: $939M (-1.66%); College: $238.98M (+5.70%); NOOK: $54.34M (-22.41%).
- Digital content sales declined 28% to $37M & device and accessories sales -6.2% to $17M.
- Comparable-store sales for the college segment expanded 1.8%.
- Gross margin rate fell 210 bps to 28.9%.
- SG&A expense rate grew 90 bps to 29.5%.
- FY2016 Guidance: Retail core comparable bookstore sales: ~+1%; NOOK EBITDA losses: decline Y/Y.
- BKS +0.18% premarket.
Aug. 3, 2015, 12:46 PM
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.
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.
Feb. 26, 2015, 10:01 AM
- Barnes & Noble (BKS +7%) will spin off its college business into a new publicly traded company in a tax-free distribution.
- Shareholders can expect the transaction to be completed before the end of August.
- The development is a reversal from a prior proposal to spin off the Nook business.
- Shares of BKS etched out a fresh 52-week high after the news hit.
Jan. 23, 2015, 1:22 PM
- Barnes & Noble (NYSE:BKS) is up 3.88% on above-average volume.
- The sorting out of short positions on BKS is in the background as shares find their way back to within a dollar of a 52-week high.
- The B&N retail chain has put up solid core comps over the last two quarters with a thinned-out bookstore herd helping to hold up demand.
Jan. 8, 2015, 9:05 AM
- Barnes & Noble (NYSE:BKS) reports core comparable-bookstore sales rose 1.7% during the nine-week holiday period.
- Total retail sales +0.2% to $1.1B.
- Nook sales -55.4% to $56M on a huge slide (expected) in device sales.
- Based on the results, B&N expects full-year core comparable-store sales to be flat and EBITDA losses in the Nook segment to decline compared to last year.
- BKS +4.6% premarket.
Dec. 11, 2014, 10:03 AM
- The S&P Retail ETF (NYSEARCA:XRT) is up 2.3% off of today's strong read on retail sales in the U.S.
- While the big boys are holding their own - Wal-Mart (NYSE:WMT) +1.1%, Target (NYSE:TGT) +2.0%, Costco (NASDAQ:COST) +1.0% - it's the apparel chains and specialty retailers doing the heavy lifting.
- Retail standouts: Barnes & Noble (NYSE:BKS) +3.3%, CST Brands (NYSE:CST) +3.3%, Ascena Retail (NASDAQ:ASNA) +3.2%, Williams-Sonoma (NYSE:WSM) +3.0%, Express (NYSE:EXPR) +2.9%, Stein Mart (NASDAQ:SMRT) +2.7%.
- Previously: Retail Sales report, highlights
Dec. 5, 2014, 5:30 PM
- Following a 7.6% gain today, Barnes & Noble (NYSE:BKS) has more than erased the big losses it initially saw on Thursday after posting an FQ2 EPS miss and announcing it's buying back Microsoft's 17.6% Nook Media stake.
- TheDeal reports today Wal-Mart is interested in the e-book market and could make a bid for Nook Media. Worth noting: Much of Nook Media's value is tied to its college bookstore ops rather than the Nook hardware and digital content businesses.
Dec. 4, 2014, 9:49 AM
- Along with its FQ2 results, Barnes & Noble (BKS -11.4%) has announced it's buying Microsoft's (MSFT +1.6%) stake in Nook Media for $62.4M in cash and 2.7M shares (current value of $52.8M). The companies have also "agreed to terminate their commercial agreement." (8-K)
- With Microsoft having invested $300M in Nook Media (contains B&N's Nook hardware, online bookstore, e-book, and college bookstore ops) in 2012 for a 17.6% stake, the software giant is taking a ~$185M loss on its investment.
- B&N's Nook segment revenue (covers hardware, digital content, and accessories) fell 41.3% Y/Y in FQ2 to just $62M, thanks to tough competition from Amazon and ongoing tablet cannibalization of e-readers. B&N's college segment saw revenue rise 1.9% to $751M.
- The sale follows Microsoft's July decision to lay off roughly half the workers in its Nokia phone unit, as part of a broader restructuring.
Sep. 9, 2014, 9:24 AM
Sep. 9, 2014, 8:59 AM
- Barnes & Noble (NYSE:BKS) reports a 5.3% drop in sales for its Retail segment to $955M in FQ1.
- Revenue for the College segment was flat at $226M, while Nook saw sales plummet 54% to $70M.
- Comp sales at the book chain were off 5.3% in FQ1, a mark that improves to a 0.4% dip if Nook products are backed out.
- The company expects the separation of the Nook business to occur by the end of Q1 in 2015.
- BKS +1.1% premarket
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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