$BKS (Barnes & Noble, Inc.)

$BKS {{ '2016-09-08T14:35:33+0000' | timeago}} • Webcast

$BKS completed the transition of certain NOOK functions to Bahwan CyberTek. Upon completion, the company shut down its Santa Clara and Taiwan offices. On an annualized basis, this action is expected to yield cash savings of $13MM, including $8MM of expense reductions starting in 2Q17.

$BKS {{ '2017-06-22T15:04:20+0000' | timeago}} • Webcast

$BKS expects comp sales to remain soft early in FY18 and improve at the back half of the year. The company anticipates CapEx to be $100MM compared to $96MM in FY17. This amount includes investments to support merchandising initiatives, new stores, system enhancements and existing store maintenance.

$BKS {{ '2017-06-22T15:03:44+0000' | timeago}} • Webcast

In FY17, $BKS opened three new stores, while closing ten stores, ending the year with 633 retail stores. In FY18, the company plans to increase the number of value offerings, improve store keeping units' productivity, change the existing store layouts and remerchandise select business units in stores.

$BKS {{ '2017-06-22T14:28:35+0000' | timeago}} • Webcast

Retail bookseller $BKS plans to open two test stores later this year. In addition to launching new store formats, Barnes & Noble aims to grow sales in existing stores through a series of sales initiatives. As part of improving the online experience, $BKS has planned for a phased rollout of its desktop and mobile site in the current fiscal year.

$BKS {{ '2017-06-22T12:53:31+0000' | timeago}} • Announcement

In FY17, $BKS reduced costs by $137MM to maintain profitability level. It ended the fiscal year with $64.9MM of debt under its $750MM credit facility. During this period, the bookseller returned $67MM in cash to its shareholders through dividends and share repurchases.

$BKS {{ '2017-06-22T12:50:11+0000' | timeago}} • Announcement

For FY18, $BKS expects comparable bookstore sales to decline in the low single digits and consolidated EBITDA to be approx $180MM.

$BKS {{ '2017-06-22T12:48:33+0000' | timeago}} • Announcement

As more customers bought books online, $BKS managed to cut down its losses in 4Q17. Net loss stood at $13.4MM, or $0.19 per share, compared to a loss of $30.6MM, or $0.42 per share, in the prior year. However, total sales fell 6.3% to $821MM, as comparable store sales declined 6.3% during the quarter.

$BKS {{ '2017-06-08T12:35:38+0000' | timeago}} • Announcement

$BKS declared a quarterly cash dividend of $0.15 per share, payable on July 28, 2017, to stockholders of record as on July 7, 2017.

$BKS {{ '2017-03-16T11:04:48+0000' | timeago}} • Announcement

$BKS BoD authorized a new stock repurchase program of up to $50MM of its common shares, to be utilized at the company's discretion. Additionally, the BoD declared a quarterly cash dividend of $0.15 per share, payable on April 28, 2017 to stockholders of record at the close of business on April 7, 2017.

$BKS {{ '2017-03-02T18:00:58+0000' | timeago}} • Webcast

With regards to the CEO search, $BKS said that new COO Demos Parneros, who was appointed in Nov. 2016, is the top candidate for the CEO position. Even after the new CEO appointment, the current CEO & Chairman Len Riggio will remain as the Chairman for some period.

$BKS {{ '2017-03-02T18:00:17+0000' | timeago}} • Webcast

$BKS said that the Board meeting is scheduled in the week after next in which a decision will be taken on the new share repurchase authorization. The Board would be looking at the company's budget for this year and also its future plans.

$BKS {{ '2017-03-02T17:34:55+0000' | timeago}} • Webcast

$BKS said that sales decline in retail industry is due to the e-commerce, which has affected retailers for a long-term. Despite the post-holiday sales improvements, trends softened in late January and into 4Q17, the company said.

$BKS {{ '2017-03-02T13:56:17+0000' | timeago}} • Announcement

$BKS expects FY17 comparable store sales to decline about 7%, and consolidated EBITDA to be $180-190MM. FY17 retail EBITDA is now expected to be $200-210MM, while NOOK's EBITDA loss has improved and is now expected to be approx. $20MM, which includes transitional costs.

$BKS {{ '2017-03-02T13:53:53+0000' | timeago}} • Announcement

$BKS' comparable store sales fell 8.3% for 3Q17 largely due to lower traffic, as well as the decline in coloring books, artist supplies and last year's best-selling album by Adele, which collectively accounted for nearly one-third of the sales decline. NOOK sales, which include digital content, devices and accessories, declined 25.7% to $38.4MM.

$BKS {{ '2017-03-02T13:52:18+0000' | timeago}} • Announcement

$BKS reported a decline in 3Q17 earnings. Net earnings were $70.3MM or $0.96 per share compared to $80.3MM or $1.04 per share in 3Q16. Total sales were $1.3Bil, down 8% compared to last year. Retail sales, which include Barnes & Noble stores and BN.com, declined 7.5% to $1.3Bil. Online sales increased 2.2% for 3Q17.

$BKS {{ '2016-12-08T12:54:43+0000' | timeago}} • Announcement

$BKS' BoD declared a quarterly cash dividend of $0.15 per share. The dividend is payable on Jan. 27, 2017 to stockholders of record on Jan. 6, 2017.

$BKS {{ '2016-11-22T20:12:52+0000' | timeago}} • Webcast

$BKS launched a new 7 inch NOOK tablet which provides great value for customers at just $49. The company opened a new prototype store today in Eastchester, New York, which is going to be a home run and expects to open a couple of more new stores before FY17.

$BKS {{ '2016-11-22T20:06:07+0000' | timeago}} • Webcast

$BKS online sales increased 12.5% in 2Q17 and book sales decreased $8MM or 19% to $35MM, on lower content and device volumes. EBITDA grew $21MM, primarily due to NOOK cost rationalization.

$BKS {{ '2016-11-22T14:28:27+0000' | timeago}} • Announcement

$BKS still sees FY17 comparable store sales to decline in low single digits and full year consolidated EBITDA of $200-250MM. Retail EBITDA is expected to be $240-280MM, excluding impact of cost-reduction initiatives charges and costs from recent CEO departure. Nook EBITDA losses are expected to decline $30-40MM, including transitional costs.

$BKS {{ '2016-11-22T14:24:58+0000' | timeago}} • Announcement

$BKS' retail sales, which include Barnes & Noble stores and BN.com, declined 3.5% to $830.7MM for 2Q17. Comparable store sales decreased 3.2% on lower store traffic, which was partly offset by the release of Harry Potter and the Cursed Child. Nook sales, which include digital content, devices and accessories, fell 19.4% to $35MM.

$BKS {{ '2016-11-22T14:22:20+0000' | timeago}} • Announcement

Bookseller $BKS reported a narrower 2Q17 loss driven by lower costs and expenses. Net loss narrowed to $20.41MM or $0.29 per share from $39.23MM or $0.52 per share last year. Sales declined to $858.55MM from $894.65MM, as it believes the sluggish sales are directly related to the election cycle.

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