Such statements reflect our current views with respect to future events, the outcome of which is subject to certain risks, including, among others: risks associated with COVID-19 and the governmental responses to it, including its impacts across our businesses on demand and operations, as well as on the operations of our suppliers and other business partners, and the effectiveness of our actions taken in response to these risks; general competitive conditions, including actions our competitors and content providers may take to grow their businesses; a decline in college enrollment or decreased funding available for students; decisions by colleges and universities to outsource their physical and/or online bookstore operations or change the operation of their bookstores; implementation of our digital strategy may not result in the expected growth in our digital sales and/or profitability; risk that digital sales growth does not exceed the rate of investment spend; the performance of our online, digital and other initiatives, integration of and deployment of, additional products and services including new digital channels, and enhancements to higher education digital products, and the inability to achieve the expected cost savings; the risk of price reductions or changes in formats of course materials by publishers, which could negatively impact revenues and margin; the general economic environment and consumer spending patterns; decreased consumer demand for our products, low growth or declining sales; the strategic objectives, successful integration, anticipated synergies, and/or other expected potential benefits of various acquisitions may not be fully realized or may take longer than expected; the integration of the operations of various acquisitions into our own may also increase the risk of our internal controls being found ineffective; changes to purchase or rental terms, payment terms, return policies, the discount or margin on products or other terms with our suppliers; our ability to successfully implement our strategic initiatives including our ability to identify, compete for and execute upon additional acquisitions and strategic investments; risks associated with operation or performance of MBS Textbook Exchange, LLCs point-of-sales systems that are sold to college bookstore customers; technological changes; risks associated with counterfeit and piracy of digital and print materials; our international operations could result in additional risks; our ability to attract and retain employees; risks associated with data privacy, information security and intellectual property; trends and challenges to our business and in the locations in which we have stores; non-renewal of managed bookstore, physical and/or online store contracts and higher-than-anticipated store closings; disruptions to our information technology systems, infrastructure, data, supplier systems, and customer ordering and payment systems due to computer malware, viruses, hacking and phishing attacks, resulting in harm to our business and results of operations; disruption of or interference with third party web service providers and our own proprietary technology; work stoppages or increases in labor costs; possible increases in shipping rates or interruptions in shipping service; product shortages, including decreases in the used textbook inventory supply associated with the implementation of publishers digital offerings and direct to student textbook consignment rental programs, as well as the risks associated with the impacts that public health crises may have on the ability of our suppliers to manufacture or source products, particularly from outside of the United States; changes in domestic and international laws or regulations, including U.S. tax reform, changes in tax rates, laws and regulations, as well as related guidance; enactment of laws or changes in enforcement practices which may restrict or prohibit our use of texts, emails, interest based online advertising, recurring billing or similar marketing and sales activities; the amount of our indebtedness and ability to comply with covenants applicable to current and /or any future debt financing; our ability to satisfy future capital and liquidity requirements; our ability to access the credit and capital markets at the times and in the amounts needed and on acceptable terms; adverse results from litigation, governmental investigations, tax-related proceedings, or audits; changes in accounting standards; and the other risks and uncertainties detailed in the section titled Risk Factors in Part I - Item 1A in our Annual Report on Form 10-K for the year ended April 30, 2022. It calls itself the world's largest retail bookseller on its website and plans to open . DSS non-GAAP Adjusted EBITDA was $1.5 million for the quarter, compared to $1.1 million in the prior year period. For Retail Gross Comparable Store Sales purposes, sales for logo and emblematic general merchandise fulfilled by FLC, Fanatics and digital agency sales are included on a gross basis. In 2015, Barnes & Noble Education, Inc. became an independent public company and parent of Barnes & Noble College, trading on the New York Stock Exchange under the ticker symbol BNED. The adjustments increased our fiscal year 2021 reported net loss by $8.0 million but did not have an impact on Adjusted EBITDA (non-GAAP), cash flows or liquidity. Brown by. Carolyn J. Moreover, we operate in a very competitive and rapidly changing environment. Data may be intentionally delayed pursuant to supplier requirements. In, Barnes & Noble. This Saturday, 4th March, 10:00 am, Northern Arizona Cinderella Scholarship Program Pageant in Flagstaff. Research from the University of New Hampshire found that community college students participating in an equitable access program are much more likely to complete a course than non-participants. Barnes & Noble Education expects to report fiscal year 2022 first quarter results in early September 2021. learning ecosystem, wholesale capabilities and more. You can only download this statistic as a Premium user. As contemplated by the FLC Partnership's merchandising agreement, we sold our logo and emblematic general merchandise inventory to FLC and received proceeds of $41,773, and recognized a merchandise inventory loss on the sale of $10,262 in cost of goods sold during the 52 weeks ended May 1, 2021 for the Retail Segment. The adjustments increased our fiscal year 2021 reported net loss by $8.0 million but did not have an impact on our non-GAAP Adjusted EBITDA, cash flows or liquidity. A conference call with Barnes & Noble Education, Inc. senior management will be webcast at 8:30 a.m. Eastern Time on Wednesday, June 29, 2022 and can be accessed at the Barnes & Noble Education corporate website at investor.bned.com or www.bned.com. Vice President * Unsubscribe . Results for the 13 weeks and 52 weeks of fiscal year 2022 and fiscal year 2021 are as follows: (1) The Company identified certain out of period adjustments related primarily to income tax benefit, and restructuring and other charges, for the 13 and 52 weeks ended May 1, 2021. Barnes & Noble Education Inc. annual income statement. Management also uses Adjusted EBITDA by Segment to determine segment capital allocations. Figures are for fiscal year ended April 30, 2019. The Company's management believes that the inclusion of Adjusted EBITDA and Adjusted Earnings results provides investors useful and important information regarding the Company's operating results. For Comparable Sales details, see below. Currently, you are using a shared account. The all-cash transaction valued Barnes & Noble stock at $6.50 a share, a premium of nearly 42 percent over the retailer's stock price on Wednesday, before a report by The Wall Street Journal . All suppliers, manufacturers and other vendors of Barnes & Noble and its subsidiaries and affiliates must comply with the Barnes & Noble Vendor Requirements. The Company's management believes that these non-GAAP financial measures provide for a more complete understanding of factors and trends affecting the Company's business than measures under GAAP can provide alone, as it excludes certain items that do not reflect the ordinary earnings of its operations. BKS has generated $0.00 earnings per share over the last four quarters. . Through its family of brands, BNED offers campus retail . FY 2012 May 1, 2011 to April 28, 2012. Additionally, gross margin for the Retail Segment excludes amortization expense (non-cash) related to content development costs of $36 and $386 for the 13 and 52 weeks ended April 30, 2022, respectively, and $167 and $745 for the 13 and 52 weeks ended May 1, 2021, respectively. All material intercompany accounts and transactions have been eliminated in consolidation. Barnes Reports has been a leading publisher of industry research and market analysis reports since 1998. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. An employee in this position can expect an annual starting rate between $125 . Barnes & Noble confirmed Tuesday that a new labor model in its stores will result in job cuts, but this will help the company save roughly $40 million annually. We believe that these measures are useful performance measures which are used by us to facilitate a comparison of our on-going operating performance on a consistent basis from period-to-period. Based on the results of the impairment tests, we recognized an impairment loss (non-cash) of $27,630. Wholesale non-GAAP Adjusted EBITDA for the quarter was $(7.3) million, compared to $(6.5) million in the prior year period. Show publisher information Brown Jul 17, 2020. We believe that these non-GAAP financial measures provide for a more complete understanding of factors and trends affecting our business than measures under GAAP can provide alone, as they exclude certain items that management believes do not reflect the ordinary performance of our operations in a particular period. Report Report. The components of the sales variances for the 13 and 52 week periods are as follows: (a) The following is a store count summary for physical stores and virtual stores: In December 2020, we entered into merchandising partnership with Fanatics Retail Group Fulfillment, LLC, Inc. (Fanatics) and Fanatics Lids College, Inc. (FLC) (collectively referred to herein as the FLC Partnership). Total Selling and Administrative Expenses. Gross margin for the DSS Segment excludes amortization expense (non-cash) related to content development costs of $1,434 and $5,068 for the 13 and 52 weeks ended April 30, 2022, respectively, and $1,167 and $4,289 for the 13 and 52 weeks ended May 1, 2021, respectively. That February, Barnes & Noble . to incorporate the statistic into your presentation at any time. Report this profile Report Report. Barnes & Noble. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make, including any statements made in regards to our response to the COVID-19 pandemic. Barnes & Noble in the Flagstaff Mall is hosting some of Flagstaff's local authors! Merchandise inventory loss and write-off (d), Consolidated Adjusted EBITDA (non-GAAP) (a), Adjusted EBITDA by Segment (non-GAAP) (a). Retail Gross Comparable Store Sales includes sales from physical and virtual stores that have been open for an entire fiscal year period and does not include sales from permanently closed stores for all periods presented. Some of Flagstaff & # x27 ; s local authors ; Noble Education expects to report fiscal year ended 30. 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