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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.

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

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Comments


BDR 4 January, 2018 um 9:14 pm

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.


Mark Williams – The New Publishing Standard 5 January, 2018 um 3:40 am

"…about what Amazon earns in a week."

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

Disgusting Dude 5 January, 2018 um 6:55 am

…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.


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