The Company operates over 600 Barnes & Noble bookstores in 50 states, and one of the Web's premier e-commerce sites, BN.com. Summary of Significant Accounting Policies to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended April 30, 2022, which is expected to be filed on or about June 29, 2022, for further information. During the 53 weeks ended May 2, 2020, we recognized restructuring and other charges totaling $18,567 comprised primarily of severance and other employee termination and benefit costs associated with several management changes and the elimination of various positions as part of cost reduction objectives, an actuarial loss related to a frozen retirement benefit plan (non-cash), store impairment loss, and professional service costs for restructuring, process improvements, and shareholder activist activities. For comparable store sales reporting purposes, logo and emblematic general merchandise sales fulfilled by FLC and Fanatics are included on a gross basis. All suppliers, manufacturers and other vendors of Barnes & Noble and its subsidiaries and affiliates must comply with the Barnes & Noble Vendor Requirements. Barnes & Noble (NYSE:BKS) has a recorded net income of $3.77 million. During the 52 weeks ended April 30, 2022 and May 1, 2021, we recognized restructuring and other charges totaling $1,662 and $9,960, respectively, comprised primarily of severance and other employee termination and benefit costs associated with the elimination of various positions as part of cost reduction objectives, and professional service costs for restructuring, process improvements, and actuarial gain related to a frozen retirement benefit plan (non-cash), shareholder activist activities, and costs related to development and integration associated with the FLC Partnership. Vice President Other includes inventory liquidation sales to third parties, marketplace sales and certain accounting adjusting items related to return reserves, and other deferred items. ( The Hill) - Barnes & Noble is initiating a $40-per-year membership service that will offer customers discounts, free shipping and additional perks. Consolidated fourth quarter non-GAAP Adjusted EBITDA loss was $(31.4) million, compared to a non-GAAP Adjusted EBITDA loss of $(20.7) million in the prior year; consolidated fiscal year non-GAAP Adjusted EBITDA loss was $(65.6) million, as compared to non-GAAP Adjusted EBITDA of $42.2 million in the prior year. At Barnes Group Inc., we promise to treat your data with respect and will not share your information with any third party. Gross comparable store sales increased 19.6% for the fiscal year, compared to a negative 26.1% in the prior year period. * Unsubscribe . Buying eBooks and Other Digital Content. During the 52 weeks ended April 30, 2022, we evaluated certain of our store-level long-lived assets in the Retail segment for impairment. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. For the 13 and 52 weeks ended May 1, 2021, gross margin excludes a merchandise inventory loss and write-off of $14,960 in the Retail Segment, comprised of a loss of $10,262 related to the sale of our logo and emblematic general merchandise inventory below cost to FLC and an inventory write-off of $4,698 related to our initiative to exit certain product offerings and streamline/rationalize our overall non-logo general merchandise product assortment resulting from the centralization of our merchandising decision-making during the year. Wholesale sales for fiscal year 2022 of $112.2 million decreased $53.6 million, as compared to the prior year period. Represents the percentage these costs bear to the related sales, instead of total sales. Consolidated Statements of Cash Flow (Unaudited). Media Contact: BNED is a company serving all who work to elevate their lives through education, supporting students, faculty and institutions as they make tomorrow a better, more inclusive and smarter world. Total Sales Barnes & Noble Education was ranked as the #1 Most Trusted Company by Newsweek in the Retail industry category and the only education company included in the final list of 32 retail companies. The all-cash transaction valued Barnes & Noble stock at $6.50 a share, a premium of nearly 42 percent over the retailer's stock price on Wednesday, before a report by The Wall Street Journal . Everything from the cash registers to the catalog lookup is down. For the 13 and 52 weeks ended May 1, 2021, gross margin excludes a merchandise inventory loss and write-off of $14,960 in the Retail Segment, comprised of a loss of $10,262 related to the sale of our logo and emblematic general merchandise inventory below cost to FLC and an inventory write-off of $4,698 related to our initiative to exit certain product offerings and streamline/rationalize our overall non-logo general merchandise product assortment resulting from the centralization of our merchandising decision-making during the year. The components of the sales variances for the 13 and 52 week periods are as follows: (a) The following is a store count summary for physical stores and virtual stores: In December 2020, we entered into merchandising partnership with Fanatics Retail Group Fulfillment, LLC, Inc. (Fanatics) and Fanatics Lids College, Inc. (FLC) (collectively referred to herein as the FLC Partnership). Results for the 13 weeks and 52 weeks of fiscal year 2022 and fiscal year 2021 are as follows: (1) The Company identified certain out of period adjustments related primarily to income tax benefit, and restructuring and other charges, for the 13 and 52 weeks ended May 1, 2021. Barnes & Noble Inc Revenue at $3552.75M (2009-2019 History) This report will help you learn the revenue history of BARNES & NOBLE INC by year as well as by each quarter. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. This button displays the currently selected search type. In 2002, Barnes & Noble Booksellers and The Borders Group were leaders in the bookseller market. Subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. Commission File Number: 1-37499. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Results for the 13 weeks and 52 weeks of fiscal year 2021 and the 14 weeks and 53 weeks of fiscal year 2020 are as follows: (1) These non-GAAP financial measures have been reconciled in the attached schedules to the most directly comparable GAAP measure as required under SEC rules regarding the use of non-GAAP financial measures. A team of HPU students secured a third-place win in the 2022 Hawai'i Annual Code . The Company's management believes that these non-GAAP financial measures provide for a more complete understanding of factors and trends affecting the Company's business than measures under GAAP can provide alone, as it excludes certain items that do not reflect the ordinary earnings of its operations. While Bookshop's prominence rose during the pandemic, Amazon's biggest challenger in the books space, Barnes & Noble, has floundered. "Revenue of Barnes & Noble in The Fiscal Years 2012 to 2019 (in Billion U.S. In December 2020, we entered into merchandising partnership with Fanatics Retail Group Fulfillment, LLC, Inc. (Fanatics) and Fanatics Lids College, Inc. (FLC) (collectively referred to herein as the FLC Partnership). Fiscal year 2022 Retail gross comparable store sales increased by 2.3% in course material sales and 76.1% in general merchandise sales. All material intercompany accounts and transactions have been eliminated in consolidation. The Company urges investors to carefully review the GAAP financial information included as part of the Companys Form 10-K dated May 1, 2021 expected to be filed with the SEC on June 30, 2021, which includes consolidated financial statements for each of the three years for the period ended May 1, 2021 (Fiscal 2021, Fiscal 2020, and Fiscal 2019) and the Company's Quarterly Report on Form 10-Q for the period ended August 1, 2020 filed with the SEC on September 3, 2020, the Company's Quarterly Report on Form 10-Q for the period ended October 31, 2020 filed with the SEC on December 8, 2020, and the Company's Quarterly Report on Form 10-Q for the period ended January 30, 2021 filed with the SEC on March 9, 2021. Consolidated fourth quarter non-GAAP Adjusted Earnings was $(11.6) million, compared to a restated* $(40.3) million in the prior year period; consolidated fiscal year non-GAAP Adjusted Earnings was $(55.6) million, compared to a restated* $(96.5) million in the prior year. The score is used to predict the probability of a firm or a fund experiencing . Barnes & Noble sells books, magazines, newspapers, DVDs, comics, gifts, games, toys, music, and digital tablets. Andy Milevoj Refer to Note 2. Event starts on Saturday, 25 March 2023 and happening at Barnes & Noble (Shreveport, LA), Shreveport, LA. x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. DSS non-GAAP Adjusted EBITDA is expected to be near fiscal year 2022 levels as revenue growth is offset by investments in product enhancements. For Retail Gross Comparable Store Sales purposes, sales for logo and emblematic general merchandise fulfilled by FLC, Fanatics and digital agency sales are included on a gross basis. Their efforts have been remarkable, and I could not be prouder, said Michael P. Huseby, Chairman and CEO, BNED. Vice President Advertising spending in the U.S. 2020-2024, Film industry in the United States and Canada - statistics & facts, Profit from additional features with an Employee Account. Our teams at BNED quickly pivoted to support our campus partners and provide valuable solutions. In addition, the Company's use of these non-GAAP financial measures may be different from similarly named measures used by other companies, limiting their usefulness for comparison purposes. Wholesale non-GAAP Adjusted EBITDA for fiscal year 2022 was $3.8 million, compared to $18.6 million in the prior year period, primarily due to lower sales. After submitting your request, you will receive an activation email to the requested email address. MOST RECENT 2021 Annual Report and Form 10K. Probability Of Bankruptcy is a relative measure of the likelihood of financial distress. Barnes & Noble is an industry leader with 15,557 employees and an annual revenue of $3.6B that is headquartered in New York, NY. You will find 5 useful sections including yearly and quarterly revenue charts and a display of highest and lowest quarters. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. See Explanatory Note in this Press Release for Segment descriptions. You must click the activation link in order to complete your subscription. Belong anywhere with Airbnb. Carolyn J. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Barnes & Noble's second quarter results fell short of expectations with a net loss of $27.2 million, or 36 cents a share, on revenue of $895 million, down 4.5% from a year ago. The webcast of this investor conference can be accessed on BNEDs corporate website at investor.bned.com. Refund and Return Policies. Wholesale non-GAAP Adjusted EBITDA for the quarter was $(7.3) million, compared to $(6.5) million in the prior year period. Course material sales benefitted from the growth of the Companys inclusive access models, which collectively grew 91% on a full year basis to $234.2 million, despite overall undergraduate enrollment declines in higher education. Barnes & Noble Education expects to report fiscal year 2023 first quarter results in September 2022. Reached agreements for 64 campus stores to support the, Gained over 300,000 gross subscribers for the. We believe the current comparable store sales calculation method reflects the manner in which management views comparable sales, as well as the seasonal nature of our business. Besides the discounted books, another pro to being a B&N member is all the extra coupons and invites to special events. Previously, he served as Senior Vice President, Treasurer and Investor Relations for the Company since 2015. Barnes & Noble, Inc. Hawaii Pacific University. For all other inquiries, please use any of the following channels of communication: - Phone: available every day from 9AM-9PM Eastern Time at 1-800-THE-BOOK (1-800-843-2665). We ensured students had their course materials wherever they were studying, and our DSS offerings provided on-demand digital tutoring and learning services to students at a time when their traditional resources were not as readily available. Barnes & Noble values the strong relationships we have with our publishing partners and the many authors whose works line our bookshelves. Other includes inventory liquidation sales to third parties, marketplace sales and certain accounting adjusting items related to return reserves, and other deferred items. Effective April 4, 2021, as contemplated by the FLC Partnership's merchandising agreement and e-commerce agreement, we began to transition the fulfillment of logo and emblematic general merchandise sales to FLC and Fanatics. Visit Barnes & Noble, Inc. for company information, consumer and financial news, and info for publishers, authors and vendors. Total selling and administrative expenses, Use of Non-GAAP Financial Information - Adjusted Earnings, Adjusted EBITDA and Free Cash Flow. A paid subscription is required for full access. All material intercompany accounts and transactions have been eliminated in consolidation. The book reading population for that same age group fell to 75% in late 2012 compared to 78% in 2011. That's the full $35 list price, less the 10 percent discount that I get from my Barnes & Noble membership. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Unallocated shared-service costs, which include various corporate level expenses and other governance functions, continue to be presented as Corporate Services. That February, Barnes & Noble . Based on the results of the impairment tests, we recognized an impairment loss (non-cash) of $6,411 (both pre-tax and after-tax) comprised of $739 $1,793, $3,668 and $211 of property and equipment, operating lease right-of-use assets, amortizable intangibles, and other noncurrent assets, respectively. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Barnes & Noble is the worlds largest retail bookseller and a leading retailer of content, digital media and educational products. FY 2018: May 1, 2017 to April 28, 2018 Fiscal year 2021 retail sales were $1,330.5 million, declining $382.4 million, or 22.3%, as compared to the prior year period, with comparable store sales decreasing 26.1%, inclusive of a 15.2% comparable course materials sales decline and 45.9% comparable general merchandise sales decline, primarily due to fewer students on campus, curtailed campus activities and significant restrictions on attendance at sporting events. The adjustments increased our fiscal year 2021 reported net loss by $8.0 million but did not have an impact on Adjusted EBITDA (non-GAAP), cash flows or liquidity. Data may be intentionally delayed pursuant to supplier requirements. Summary of Significant Accounting Policies to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended April 30, 2022, which is expected to be filed on or about June 29, 2022, for further information. FY 2015 May 4, 2014 to May 2, 2015 By providing your email address below, you are providing consent to Barnes Group Inc. to send you the requested Investor Email Alert updates. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Barnes & Noble Education, Inc. (NYSE: BNED) is a leading solutions provider for the education industry, driving affordability, access and achievement at hundreds of academic institutions nationwide and ensuring millions of students are equipped for success in the classroom and beyond. Adjustments to reconcile net loss to net cash flows from operating activities: Merchandise inventory loss and write-off (a), Changes in operating lease right-of-use assets and liabilities, Changes in other long-term assets and liabilities and other, net, Changes in other operating assets and liabilities, net, Net cash flow provided by (used in) operating activities, Changes in other noncurrent assets and other, Net cash flow used in investing activities, Proceeds from borrowings under Credit Agreement, Repayments of borrowings under Credit Agreement, Net cash flows provided by financing activities, Net increase (decrease) in cash, cash equivalents, and restricted cash, Cash, cash equivalents, and restricted cash at beginning of period, Cash, cash equivalents, and restricted cash at end of period. FY 2016: May 3, 2015 to April 30, 2016 In its 2019 fiscal year, American bookseller Barnes & Noble reported revenue of 3.48 billion U.S. dollars, down from 3.66 billion in 2018. To better understand the financial performance of these companies, this report will examine the operating activities and provide analysis based upon the 2002 Annual Reports and SEC 10-K filings provided by each organization. In addition, the Company's use of these non-GAAP financial measures may be different from similarly named measures used by other companies, limiting their usefulness for comparison purposes. Barnes & Noble's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. BKS has generated $0.00 earnings per share over the last four quarters. The Company's management believes that these measures are useful performance measures which are used by the Company to facilitate a comparison of on-going operating performance on a consistent basis from period-to-period. In general merchandise sales fulfilled by FLC and Fanatics are included on gross. 2.3 % in late 2012 compared to 78 % in the bookseller market $ 53.6 million, as compared the! 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