Barnes & Noble Reports Holiday Revenues Down 6.4%

B&N has reported their sales from the holiday quarter, and the news was not good.

There's no mention of Nook revenues, but B&N did say that total sales for the 9-week period were down 6.4%, to $953 million - or about what Amazon earns in a week.

Barnes & Noble Reports Holiday Revenues Down 6.4% Barnes & Noble

press release:

B&N today reported holiday sales for the nine-week holiday period ending December 30, 2017.Total sales for the holiday period were $953 million, declining 6.4% as compared to the prior year. Comparable store sales also declined 6.4% for the holiday period, while online sales declined 4.5%.

Entering December, the Company was encouraged by the comparable store sales improvements throughout the second quarter and into November. However, sales trends softened in December, primarily due to lower traffic.

The Company's book business declined 4.5%, outperforming the overall comparable store sales performance. Declines in the gift, music and DVD categories accounted for nearly half of the comparable store sales decrease.The Company said it remains focused on executing its strategic turnaround plan, which includes an aggressive expense management program.

Based on the holiday sales results, the Company expects comparable store sales to decline in the mid-single digits and consolidated EBITDA to be in a range of $140 million to $160 million for fiscal 2018, excluding any unusual or non-recurring items.Barnes & Noble, Inc. will report fiscal 2018 third quarter results on or about March 1, 2018.

image by spwam1

About Nate Hoffelder (10069 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

3 Comments on Barnes & Noble Reports Holiday Revenues Down 6.4%

  1. BKS matched its lowest close in the last 7 years today, and the second lowest close in the last 29 years.

    The death march continues.

  2. “…about what Amazon earns in a week.”

    Irrelevant unless its what Amazon earns in a week from book sales.

    • …books, gifts, music, and DVDs. Plus eink readers and (Samsung) tablets.

      The big red alert isn’t the total sales numbers but rather “aggressive expense management”.

      In a retail environment, that translates to lower employee costs (typically, by reducing floor staff hours), higher coop fees (expect another S&S style catfight), and more store closures/downsizings.

      “Aggressive expense management” is not a prescription for higher sales volumes. Especially at a time when 18 states are increasing entry level minimum wage.

      B&N headwinds are only getting stronger.

3 Trackbacks & Pingbacks

  1. B&N Press Pays a 65% Royalty on All eBooks Priced Over $2.99 | The Digital Reader
  2. Bookstore Sales Fell 37% in the Last Decade | The Digital Reader
  3. B&N Reports Revenues Down 5.3% in 3rd Fiscal Quarter | The Digital Reader

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