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Barnes & Noble Education Reports Big Losses In Q4 Earnings

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Barnes & Noble Education (NYSE: BNED) reported quarterly losses of 97 cents per share, which missed the analyst consensus estimate of a 2 cent loss. The adjusted EPS figure for the fourth quarter came in at 1 cent.

The company reported quarterly sales of $334.39 million, which missed the analyst consensus estimate of $346.05 million. This is a 6.50% decrease over sales of $357.654 million the same period last year.

"We continue to rapidly implement necessary and profound change across BNED to ensure that we are serving the needs of the education market both today and in the future," said Michael Huseby, CEO and Chairman." Our fiscal year results were in line with our expectations, and we are beginning to establish positive momentum as we continue to pivot our platforms and offerings to digital delivery."

Barnes & Noble Education shares closed Monday at $2.98.

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Posted-In: Earnings News

 

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