BNED Q2 revenue $617M (-1.6% YoY); net income $22.1M; plans $30-35M cost savings

Barnes & Noble Education, Inc.

2023-Q2 EPS reported -$0.58 revenue$880,956,000

GAAP sales $617.1M, down 1.6%; net income $22.1M vs $22.5M prior year.
Non-GAAP adjusted EBITDA $39.4M vs $39.0M; adjusted earnings $24.0M vs $25.0M.
First Day Complete revenue +97% to $89.9M; adopted by 111 stores covering ~545K students.
Retail comparable store sales -2.2%; general merchandise +4.5% partly offsetting course material declines.
Expects $30-35M annualized cost savings, $10-15M in FY2023; accelerating First Day Complete adoption.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Barnes & Noble Education, Inc. reported second quarter ended October 29, 2022 results: revenue $617.1 million, net income $22.1 million.

Period: second quarter ended October 29, 2022
Revenue: $617.1 million
Net income: $22.1 million
Result: reported results

Exact text from the filing

Financial results for the second quarter 2023: • Consolidated second quarter GAAP sales of $617.1 million decreased 1.6%, as compared to the prior year period. • Consolidated second quarter GAAP gross profit of $144.8 million compared to $145.6 million in the prior year period. Gross margin was 23.5% of sales as compared to 23.2% in the prior year period. • Consolidated second quarter GAAP net income of $22.1 million, compared to $22.5 million in the prior year period.

View on SEC.gov

Browse all earnings releases →

Barnes & Noble Education, Inc. filing history →

Source: SEC EDGAR

accession 0001634117-22-000142

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.