Barnes & Noble Education Shares Rally As Q1 Sales Tops Consensus

  • Barnes & Noble Education Inc BNED reported first-quarter FY22 sales growth of 18% year-on-year, to $240.79 million, beating the analyst consensus of $225.60 million.
  • Retail segment gross comparable store sales increased 49.8%, and retail sales rose 32.6%. Wholesale sales decreased 44.6%.
  • Gross profit rose 94.5% Y/Y to $60 million with a margin of 24.9%.
  • The operating loss narrowed to $(41.4) million.
  • Barnes & Noble Education held $7.6 million in cash and equivalents as of July 31, 2021.
  • Adjusted EBITDA loss was $(24.5) million versus $(38.0) million last year.
  • EPS was $(0.86) versus $(0.96) last year.
  • Outlook: Barnes & Noble Education expects to generate positive non-GAAP Adjusted EBITDA in the current fiscal year.
  • The company expects non-GAAP adjusted EBITDA to approach annual pre-COVID levels in FY23.
  • Price Action: BNED shares traded higher by 12.29% at $9.28 on the last check Thursday.
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BNEDBarnes & Noble Education Inc
$11.63-1.86%

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