The full third FY quarter report is out:
http://www.shelf-awareness.com/issue.html?issue=3195
Still not good news.The
Quote:
In the third quarter ended January 27, total sales at Barnes & Noble fell 5.3%, to $1.2 billion, and the consolidated net loss was $63.5 million, compared to net earnings of $70.3 million in the same period a year earlier.
In the quarter, sales at stores open at least a year fell 5.8% "primarily due to lower traffic." The company noted that in January, comp-store sales fell 3.5%, a slight improvement.
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Boldface mine.
Moving forward, they are counting on Buzzword Bingo to obscure their lack of strategy:
Quote:
The company also said that its long-term strategic plan is "focused on the following four key elements:
1) strengthening the core business by enhancing the customer value proposition;
2) improving profitability through an aggressive expense management program, which will be used to fund growth initiatives;
3) accelerating execution through simplification; and
4) innovating for the future, which will position the company for long-term growth."
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Edit: the Financial Times has a piece out today.
(May or not work for you.)
https://www.ft.com/content/d41c9fcc-...a-4574d7dabfb6
Nothing terribly new but they end with this:
Quote:
Sandell Asset Management, one of the company’s top investors, had urged*the company to sell itself, arguing that its “unconscionably low” market value failed to reflect its status as the “one truly national bookstore chain”.
At their peak in 2006, Barnes & Noble shares were worth nearly $32 a piece. The stock closed at $4.50 on Wednesday, giving it a market value of just $327.5m.
Shares fell another 3 per cent in pre-market trading.
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Not so long ago, Nook alone was valued at $2B and Kobo sold for $315M.
The B&N warehouses and distribution system are probably worth more than tgat.
Gordon Gekko would be all over their stock.