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
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. 10, 2015, 7:55 AM
- Barnes & Noble (NYSE:BKS) CEO Ronald Boire says the company will explore developing a new store format in the future. A new retail strategy may be easier to pull off following the spin-off of the the college business.
- The exec says B&N will have more to say on the proposed store format soon.
- Barnes & Noble reported FQ1 results yesterday.
- Previously: Barnes & Noble EPS of -$0.68 (Sep. 09 2015)
- Previously: More on Barnes & Noble's FQ1 (Sep. 09 2015)
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.
Sep. 9, 2015, 8:32 AM
- Barnes & Noble (NYSE:BKS): FQ1 EPS of -$0.68 may not be comparable to consensus of $0.12.
- Revenue of $1.22B (-1.6% Y/Y) beats by $220.75M.
Sep. 8, 2015, 5:30 PM
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.