Barnes & Noble Education, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 28, 2023
March 09, 2023 at 04:11 pm EST
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Barnes & Noble Education, Inc. reported earnings results for the third quarter and nine months ended January 28, 2023. For the third quarter, the company reported sales was USD 44.31 million compared to USD 25.09 million a year ago. Revenue was USD 447.06 million compared to USD 402.8 million a year ago. Net loss was USD 25.05 million compared to USD 36.8 million a year ago. Basic loss per share from continuing operations was USD 0.48 compared to USD 0.71 a year ago. Diluted loss per share from continuing operations was USD 0.48 compared to USD 0.71 a year ago.
For the nine months, sales was USD 96.56 million compared to USD 87.76 million a year ago. Revenue was USD 1,328.02 million compared to USD 1,270.57 million a year ago. Net loss was USD 55.61 million compared to USD 57.9 million a year ago. Basic loss per share from continuing operations was USD 1.06 compared to USD 1.12 a year ago. Diluted loss per share from continuing operations was USD 1.06 compared to USD 1.12 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 is also a textbook wholesaler, inventory management hardware and software provider, and a provider of digital education solutions. The Company's segments include Retail and Wholesale. The Retail Segment operates 1,366 college, university, and K-12 school bookstores, comprised of 774 physical bookstores and 592 virtual bookstores. The Wholesale Segment centrally sources, sells, and distributes new and used textbooks to approximately 3,000 physical bookstores, including its Retail segment's 774 physical bookstores and sources, and distributes new and used textbooks to its 592 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 340 college bookstores.