Barnes & Noble Education, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended October 28, 2023
December 06, 2023 at 04:01 pm EST
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Barnes & Noble Education, Inc. reported earnings results for the second quarter and six months ended October 28, 2023. For the second quarter, the company reported sales was USD 40.68 million compared to USD 41.33 million a year ago. Revenue was USD 610.38 million compared to USD 608.63 million a year ago. Net income was USD 24.18 million compared to USD 22.14 million a year ago. Basic earnings per share from continuing operations was USD 47 compared to USD 46 a year ago. Diluted earnings per share from continuing operations was USD 47 compared to USD 46 a year ago. Basic earnings per share was USD 46 compared to USD 42 a year ago. Diluted earnings per share was USD 46 compared to USD 42 a year ago.
For the six months, sales was USD 52.19 million compared to USD 52.25 million a year ago. Revenue was USD 874.54 million compared to USD 863.31 million a year ago. Net loss was USD 26.21 million compared to USD 30.56 million a year ago. Basic loss per share from continuing operations was USD 48 compared to USD 50 a year ago. Diluted loss per share from continuing operations was USD 48 compared to USD 50 a year ago. Basic loss per share was USD 50 compared to USD 58 a year ago. Diluted loss per share was USD 50 compared to USD 58 a year ago.
Barnes & Noble Education, Inc. is a contract operator of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. The Company also textbook wholesalers and inventory management hardware and software providers. The Company operates through two segments: Retail, and Wholesale. The Retail Segment operates 1,245 college, university, and K-12 school bookstores, comprised of 707 physical bookstores and 538 virtual bookstores. The Wholesale Segment provided a comprehensive selection of new and used textbooks to approximately 2,750 physical bookstores, including its Retail segment's 707 physical bookstores and sources, and distributes new and used textbooks to its 538 virtual bookstores. Additionally, the Wholesale Segment sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to approximately 325 college bookstores.