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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

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Comments


Xaver Basora 20 June, 2019 um 6:21 pm

Nate

The Official death spiral watch(tm) is officially opened.
When will Barnes and Noble finally expire?

xavier


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