UPDATE: Barnes & Noble Posts Narrower Q4 Loss, Plans To Separate Retail, NOOK Media Units

Barnes & Noble

reported a narrower fourth-quarter loss and announced its plans to split its retail and Nook Media businesses. Barnes & Noble posted a quarterly net loss of $36.7 million, or $0.72 per share, versus a year-ago loss of $114.8 million, or $2.04 per share. Its revenue climbed 3% to $1.321 billion from $1.277 billion. However, analysts were expecting a loss of $0.49 per share on revenue of $1.192 billion. The Nook segment's revenue dropped 22% to $87 million, while Retail segment revenue rose 0.8% to $955.6 million. The College segment revenue surged 18.2% to $298 million. Consolidated EBITDA rose to $11.2 million, versus an EBITDA loss of $124.6 million. For fiscal 2015, Barnes & Noble projects same-store sales to fall by a percentage in the low single digits. Michael P. Huseby, Chief Executive Officer of Barnes & Noble said, “Our fiscal 2014 results and solid financial position at year-end reflect the positive impact of those actions. We believe we are now in a better position to begin in earnest those steps necessary to accomplish a separation of NOOK Media and Barnes & Noble Retail.” Barnes & Noble shares surged 9.05% to $22.42 in pre-market trading.