Barnes & Noble Education, Inc. Files 10-Q for Q3 2024

TL;DR

<b>Barnes & Noble Education, Inc. has filed its Q3 2024 10-Q report.</b>

AI Summary

Barnes & Noble Education, Inc. (BNED) filed a Quarterly Report (10-Q) with the SEC on March 12, 2024. Barnes & Noble Education, Inc. filed its 10-Q report for the period ending January 27, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on April 27th. The filing was made on March 12, 2024. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Barnes & Noble Education, Inc., this filing contains several important signals. This filing provides investors with the latest financial performance and operational details for Barnes & Noble Education, Inc. Understanding the Q3 results is crucial for assessing the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — Barnes & Noble Education, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2024-01-27 — Conformed Period of Report (Fiscal Quarter End)
• 2024-03-12 — Filed As Of Date (Filing Date)
• 0427 — Fiscal Year End (Company's Fiscal Year End)

Key Players & Entities

• Barnes & Noble Education, Inc. (company) — Filer
• 2024-01-27 (date) — Conformed Period of Report
• 2024-03-12 (date) — Filed as of date
• DE (state) — State of Incorporation
• 07920 (zip_code) — Business Address Zip
• 908-991-2665 (phone) — Business Phone

FAQ

Industry Context

Barnes & Noble Education, Inc. operates in the retail sector, specifically focusing on educational products and services for college campuses.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review management's discussion and analysis (MD&A) for insights into operational performance and future outlook.
3. Check for any new risk factors or significant changes in existing ones.

Key Dates

• 2024-01-27: Fiscal Quarter End — End of the reporting period for the 10-Q filing.
• 2024-03-12: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is a standard 10-Q filing for the third quarter of fiscal year 2024, providing updated financial information compared to previous periods.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share BNED New York Stock

Filing Documents

• bned-20240127.htm (10-Q) — 2218KB
• ex311-20240127xq324.htm (EX-31.1) — 12KB
• ex312-20240127xq324.htm (EX-31.2) — 12KB
• ex321-20240127xq324.htm (EX-32.1) — 6KB
• ex322-20240127xq324.htm (EX-32.2) — 6KB
• 0001634117-24-000011.txt (&nbsp;) — 8231KB
• bned-20240127.xsd (EX-101.SCH) — 38KB
• bned-20240127_cal.xml (EX-101.CAL) — 29KB
• bned-20240127_def.xml (EX-101.DEF) — 337KB
• bned-20240127_lab.xml (EX-101.LAB) — 480KB
• bned-20240127_pre.xml (EX-101.PRE) — 407KB
• bned-20240127_htm.xml (XML) — 1256KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Statements of Operations – For the 13 and 39 weeks ended January 27, 2024 and January 28, 2023 3 Condensed Consolidated Balance Sheets – As of January 27, 2024, January 28, 2023, and April 29, 2023 4 Condensed Consolidated Statements of Cash Flows – For the 39 weeks ended January 27, 2024 and January 28, 2023 5 Condensed Consolidated Statements of Equity – As of January 27, 2024 and January 28, 2023 7 Notes to Condensed Consolidated Financial Statements 8 Note 1. Organization 8 Note 2. Summary of Significant Accounting Policies 10 Note 3. Revenue 17 Note 4. Segment Reporting 19 Note 5. Equity and Earnings Per Share 21 Note 6. Fair Value Measurements 21 Note 7. Debt 23 Note 8. Leases 27 Note 9. Supplementary Information 28 Note 10. Long-Term Incentive Plan Compensation Expense 29 Note 11. Employee Benefit Plans 29 Note 12. Income Taxes 29 Note 13.

Legal Proceedings

Legal Proceedings 30 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Overview 31 Results of Operations 36 Non-GAAP Measures 49 Liquidity and Capital Resources 53 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 63 Item 4.

Controls and Procedures

Controls and Procedures 64 PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 65 Item 1A.

Risk Factors

Risk Factors 65 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 65 Item 5. Other Information 66 Item 6. Exhibits 66

SIGNATURES

SIGNATURES 67 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

: Financial Statements

Item 1: Financial Statements BARNES & NOBLE EDUCATION, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (In thousands, except per share data) (unaudited) 13 weeks ended 39 weeks ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Sales: Product sales and other $ 415,375 $ 393,745 $ 1,237,723 $ 1,204,806 Rental income 41,298 44,309 93,490 96,555 Total sales 456,673 438,054 1,331,213 1,301,361 Cost of sales (exclusive of depreciation and amortization expense): Product and other cost of sales 332,728 317,833 991,695 957,788 Rental cost of sales 23,909 23,210 52,606 52,416 Total cost of sales 356,637 341,043 1,044,301 1,010,204 Gross profit 100,036 97,011 286,912 291,157 Selling and administrative expenses 79,756 91,841 243,193 281,136 Depreciation and amortization expense 10,148 10,112 30,576 31,264 Impairment loss (non-cash) 5,798 6,008 5,798 6,008 Restructuring and other charges 3,413 4,127 12,320 4,762 Operating income (loss) 921 ( 15,077 ) ( 4,975 ) ( 32,013 ) Interest expense, net 10,620 6,918 29,538 15,672 Loss from continuing operations before income taxes ( 9,699 ) ( 21,995 ) ( 34,513 ) ( 47,685 ) Income tax expense 229 139 532 603 Loss from continuing operations $ ( 9,928 ) $ ( 22,134 ) $ ( 35,045 ) $ ( 48,288 ) Income (loss) from discontinued operations, net of tax of $ 0 , $ 128 , $ 20 , and $ 297 , respectively $ 289 $ ( 2,915 ) $ ( 802 ) $ ( 7,324 ) Net loss $ ( 9,639 ) $ ( 25,049 ) $ ( 35,847 ) $ ( 55,612 ) Loss per share of common stock: Basic and Diluted: Continuing operations $ ( 0.19 ) $ ( 0.42 ) $ ( 0.66 ) $ ( 0.92 ) Discontinued operations $ 0.01 $ ( 0.06 ) $ ( 0.02 ) $ ( 0.14 ) Total Basic and Diluted Earnings per share $ ( 0.18 ) $ ( 0.48 ) $ ( 0.68 ) $ ( 1.06 ) Weighted average common shares outstanding - Basic and Diluted 53,153 52,602 52,862 52,404 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents BARNES & NOBLE EDUCATI

View Full Filing

View this 10-Q filing on SEC EDGAR