Barnes & Noble Reports Revenue Down 3% for the Year, Nook Revenue Down 17%
It turns out that the positive revenue report from the third quarter was a fluke rather than the start of a turnaround.
Barnes & Noble reported sales and earnings for its fiscal 2019 fourth quarter and fiscal year on Friday. Its sales totaled $3.6 billion for the full year and $755 million for the quarter, falling 3.0% and 3.9% from the prior year periods, respectively. Comparable store sales declined 2.3% for the fourth quarter and 1.9% for the full year.
Nook revenues totaled $92 million for the fiscal year, a decline of 17% from the previous year.
The consolidated fourth quarter net loss was $18.7 million, compared to a loss of $21.1 million in the prior year. Fiscal 2019 net earnings were $3.8 million compared to a net loss of $125.5 million in the prior year.
Those details, plus the SEC filing, is all we will have to go on because B&N has announced that they will not be hosting a conference call this quarter to discuss the results. They’ve pointed at the Elliott deal as their justification.
That deal won’t be completed until October, so this is more of a cop out than a valid justification.
image by JeepersMedia via Flickr
Comments
Xaver Basora June 20, 2019 um 6:21 pm
Nate
The Official death spiral watch(tm) is officially opened.
When will Barnes and Noble finally expire?
xavier
B&N is Having Money Problems | The Digital Reader April 24, 2020 um 10:31 am
[…] B&N's last fiscal year, Nook revenues, including both hardware and content sales, totaled $92 million, while revenues for […]
Barnes & Noble CEO James Daunt Still Likes the Nook | The Digital Reader August 22, 2020 um 10:57 pm
[…] any case, Daunt has his work cut out for him. Nook revenues totaled $92 million in the 2019 fiscal year, which ended in 27 April 2019. (B&N did not file a fiscal report with […]