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Barnes & Noble Inc (BKS)

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  • Jul. 9, 2013, 10:14 AM
    Barnes & Noble (BKS +3.1%) says it has no "immediate plans" to name a new CEO to replace William Lynch, a development that isn't disturbing investors this morning as shares recover from a premarket drop. The new focus on the company turns to if Leonard Riggio can grab control of the bookstore business and how to line up a Nook exit or transformation with investors Pearson and Microsoft still in the mix.
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  • Jul. 8, 2013, 5:43 PM
    Barnes & Noble (BKS) CEO William Lynch has resigned from his position, and from the company's board. Also, CFO Michael Huseby is now the head of Nook Media and B&N's president, and corporate controller Allen Lindstrom has been named B&N's new CFO. Both Huseby and Retail Group chief Mitchell Klipper will now directly report to chairman Leonard Riggio. The shakeup comes shortly after B&N's FQ4 miss and decision to exit the tablet market. Shares -2.3% AH.
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  • Jul. 5, 2013, 4:46 PM
    Amazon (AMZN) has responded to Barnes & Noble's (BKS) Nook price cuts (coming ahead of a tablet market exit), and perhaps also the pending launch of a next-gen Nexus 7, by slashing the U.S. price of the 7" Kindle Fire HD to $169 from $199. Meanwhile, both Amazon and B&N have cut tablet prices in Europe. In the U.K, the 7" Nook HD (8GB) now goes for £99, and the 7" Kindle Fire HD (16GB) for £139. In addition to Google, Amazon and B&N have been seeing tough competition from Samsung and a slew of Chinese/Taiwanese OEMs selling sub-$200 Android tablets.
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  • Jul. 5, 2013, 11:46 AM
    Has Amazon (AMZN -0.1%) responded to Borders' bankruptcy and Barnes & Noble's (BKS +1.8%) struggles by paring back its book discounts? Writers and publishers talking to the NYT say that's the case, at least for "scholarly and small-press books." A trade firm surveying 18 publishers found 14 of them saying Amazon had, over the last few years, "either lowered discounts on scholarly books or, in the case of older or slow-selling titles, completely eliminated them." An Amazon spokeswoman insists the e-commerce giant is still lowering prices.
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  • Jul. 1, 2013, 2:20 PM
    Selling books is still the secret sauce that could help lift Barnes & Noble (BKS +5.1%) back into profitability, according to a panel of executives asked about the struggling company. Leveraging the store traffic that B&N's highly-loyal group of customers delivers is viewed as the key to unlocking new growth opportunities.
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  • Jun. 26, 2013, 5:49 PM
    Barnes & Noble (BKS) discloses it won't file its FY13 10-K on time due to a previously-announced accounting review that could lead to restatements. The company also discloses it has amended its credit agreement with several banks; the amendments place limits/conditions on B&N's dividend payments and buyback activity. (FQ4 results: I, II) (tablet market exit)
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  • Jun. 25, 2013, 2:00 PM
    Barnes & Noble (BKS -20.3%) is exiting the tablet market and will focus its hardware efforts on e-readers, the book retailer announces in tandem with its bleak FQ4 results and FY14 guidance. With B&N's tablet share having cratered and the Nook division reporting $133M in inventory charges for FQ4, the decision isn't hard to fathom. B&N says it will "continue to offer its existing inventory" of Nook tablets through the holiday season, and will seek out partners to make B&N-branded tablets. Amazon (AMZN) must be pleased, given the overlap between the Nook HD and Kindle Fire's targeted customers, and the fact B&N remains a top e-book competitor.
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  • Jun. 25, 2013, 12:45 PM
    Midday top 10 gainers: CBMX +59%. MEET +38%. OXF +23%. CRWN +18%. USMD +16%. ALLT +14%. HYGS +14%. YRCW +12%. OGEN +12%. OPTT +11%.
    Midday top 10 Losers: DMD -21%. BKS -18%. MITK -17%. AVD -16%. FMAR -14%. SINO -9%. EDUC -9%. INFI -8%. GHDX -9%. OESX -8%.
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  • Jun. 25, 2013, 9:11 AM
    Premarket gainers: CBMX +32%. ETRM +6%.
    Losers: MITK -15%. BKS -10%. WAG -6%.
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  • Jun. 25, 2013, 8:46 AM
    The quick analyst take on Barnes & Noble (BKS): It's hard to find too much to like about the retailer's FQ4 numbers or the tone of the comments from execs. Belus Capital's Brian Sozzi calls the B&N report "horribly disappointing" while others note the bloom is decidedly off the rose for the sale of Nook Media to Microsoft. BKS -5.5% premarket to $17.94. (PR)
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  • Jun. 25, 2013, 8:40 AM
    More on Barnes & Noble (BKS): The company says results were impacted negatively by Nook inventory charges it was forced to realize. Revenue fell off 10% in the B&N's Retail segment and 35% for its Nook segment which was only partially offset by a 24% pickup in College segment revenue. Digital content sales declined 8.9% Y/Y off of a tough comparable to last year and lower-than-expected devices in play. For FY14, retail comparable bookstore sales are expected to decline at a low-single digit rate. BKS -8.1% premarket to $17.30. (PR)
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  • Jun. 25, 2013, 8:33 AM
    Barnes & Noble (BKS): FQ4 EPS of -$2.11 misses by $1.12. Revenue of $1.28B (-7.4% Y/Y) misses by $0.05B. (PR)
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  • Jun. 25, 2013, 12:05 AM
    Notable earnings before Tuesday’s open: BKS, CCL, LEN, WAG
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  • Jun. 24, 2013, 5:30 PM
    Notable earnings before Tuesday’s open: BKS, CCL, LEN, WAG
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  • Jun. 24, 2013, 10:08 AM
    Barnes & Noble (BKS -1.7%) is in focus early this week just in front of the release of the company's FQ4 earnings report. What to watch: At 10:00 AM EST tomorrow B&N execs will be on the hot seat with questions expected to be asked by analysts on the future of Nook Media. What they don't say may be as important as what they do say.
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  • Jun. 20, 2013, 11:35 AM
    Shares of Barnes & Noble (BKS -1.1%) dip to their lowest level in a month with the company's FQ4 earnings report looming larger. Barclays isn't expecting a turnaround, forecasting B&N's comparable store sales at retail outlets lost ~10% during the quarter and weak Nook sales. Investors waiting for the Microsoft Hail Mary may have to ride out a few more bumps.
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Company Description
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.