Barnes & Noble Education Stock Slips Following Q1 Results
Portfolio Pulse from Erica Kollmann
Barnes & Noble Education (NYSE:BNED) reported Q1 sales of $263.4 million, missing estimates and showing a slight decline from last year. The decrease was due to store closures, though BNC First Day programs saw a 32% revenue increase. The company plans $20 million in capital expenditures for FY 2025, focusing on store and tech improvements. Shares fell over 5% after the report.
September 10, 2024 | 9:23 pm
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Barnes & Noble Education reported Q1 sales of $263.4 million, missing analyst estimates and showing a slight decline from last year. The decrease was due to store closures, though BNC First Day programs saw a 32% revenue increase. Shares fell over 5% after the report.
The company's Q1 sales missed analyst expectations, leading to a decline in stock price. The decrease in revenue was attributed to store closures, although there was a significant increase in BNC First Day program revenues. The market reacted negatively, as evidenced by the 5%+ drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100