- Barnes & Noble Education Inc BNED reports a Revenue down 1.6% in Q2 FY23 year-over-year to $617.10 million, missing the consensus of $675.01 million.
- Comparable retail gross sales decreased 2.2% and retail sales decreased 1.7%. Wholesale sales fell by 2.5%.
- Gross profit fell 0.5% year over year to $144.8 million with a 23.5% margin.
- Barnes & Noble Education reported operating income of $26.7 million for the quarter, compared to $24.6 million a year earlier. The operating margin was 4.3%.
- Adjusted EBITDA was $39.4 million compared to $39 million a year ago.
- Adjusted EPS of $0.45 missed consensus of $0.76.
- barnes & Noble Education held $19.1 million in cash and cash equivalents as of October 29, 2022.
- outlook: Barnes & Noble Education expects FY23 Adjusted EBITDA to be in the range of $20 million to $30 million.
- Price promotion: BNED shares traded 30.98% lower at $1.76 on the latest check Tuesday.
- Photo via company
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