Price Action: BNED shares traded lower by 21.2% at $6.98 on the last check Tuesday.
The company expects non-GAAP adjusted EBITDA to approach annual pre-COVID levels in FY23.
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Outlook: Barnes & Noble Education expects to generate positive non-GAAP Adjusted EBITDA in FY22. The New American Road Trip Mixtape has been on sale for five months, and its sold more than 3,000 copies in paperback and ebook formats, mostly online, including Barnes & Nobles website, though not on their shelves.
Barnes & Noble Education held $23.5 million in cash and equivalents as of October 30, 2021.
Adjusted EBITDA of $39 million rose 59.2% from last year.
The operating margin was 4%, with the operating income increasing 265% Y/Y to $24.6 million.
Gross profit rose 26.3% Y/Y to $145.6 million with a margin of 23.2%.
Comparable textbook sales remained essentially flat, compared to a 19% decline a year ago, as enrollment declines were mitigated by the growth of First Day offerings.
Crown Books Founded in 1977 in Washington D.C., Crown Books grew steadily to a regional chain of 197 locations 196 in 1993. This devotional book is a 90-day reminder that we never move past the gospel it is the beginning, middle, and end of what God has given to save us and make. Dalton locations were steadily closed, the last ones shut their doors in 2010. Yet too often, in seeking to grow as a Christian, we leave the gospel back at the starting lineas if it’s something we must grow beyond, as if going deeper requires moving on from it.
Retail segment gross comparable store sales increased 13.2%, and retail sales rose 5.6%. While Barnes and Noble used B Dalton bookstores to transform itself into a nationwide retailer, B.
Barnes & Noble Education Inc (NYSE: BNED) reported second-quarter FY22 sales growth of 5.3% year-on-year, to $626.98 million, missing the analyst consensus of $663.30 million.