Barnes & Noble Narrows Q4 Loss, Posts Fiscal-Year Profit

Barnes & Noble, which has accepted a $683 million offer from a private equity fund manager, June 19 said it generated a fourth-quarter (ended April 27) loss of $18.3 million, down from a net loss of $21.1 million during the previous-year period.

The nation’s largest brick-and-mortar bookstore, which operates 627 stores in 50 states, said same-store sales dipped 2.3% in the quarter and 1.9% for the fiscal year.

Total quarterly sales were $755 million and $3.6 billion for the fiscal year, decreasing 3.9% and 3% from the prior year periods, respectively.

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quarterly sales, which include digital sales of movies and TV shows, narrowed 17.4% to $20.7 million from $25 million last year.

Fiscal 2019 net earnings were $3.8 million compared to a net loss of $125.5 million in the prior year.

Excluding non-recurring or unusual charges, pre-tax earnings topped $4.6 million in the quarter, as compared to $6.7 million a year ago, and $147.2 million for fiscal 2019, as compared to $145.4 million a year ago.

Barnes & Noble said it reduced expenses by $50.4 million during fiscal 2019, excluding non-recurring or unusual charges.

The retailer on June 7 entered into an agreement to be acquired by funds advised by Elliott Advisors (U.K.) Limited. If the deal is consummated, B&N is expected to be privately held.

 

 

Book Retailer Marketing Companion Titles for Netflix, Hulu, Amazon, HBO Original Shows

If you can’t beat subscription streaming, join over-the-top video.

Books-A-Million, the Birmingham, Ala.-based chain of 200 bookstores, has issued a list of companion books to favorite Netflix, Hulu and other streaming titles. This list complements popular TV shows and movie titles, including “You,” “Stranger Things,” Bird Box, “Spark Joy: An Illustrated Master Class on the Art of Organizing and Tidying Up,” among others.

“Think of the book as the uncut version of the movie or TV series – there is better character development, the plot is deeper, the blanks are filled in, there may be an alternate ending and there might be a sequel,” Margaret Terwey, senior buyer for Books-A-Million, said in a statement. “That’s why we think the book is better and why we encourage our customers to simultaneously stream and read.”

Stranger Things: Suspicious Minds: The First Official Stranger Things Novel ($28) by Gwenda Bond is a brand-new prequel providing readers with secrets and the background of Eleven’s mother.

Agatha Christie’s The ABC Murders ($14.99) inspired the Amazon Prime series, which sets main character Hercule Poirot on the trail of an alphabetical serial killer.

You ($17) by Caroline Kepnes prompted the popular Netflix series about a young man who meets a woman and becomes obsessed with being her perfect partner, removing any obstacles in his way.

Josh Malerman’s Bird Box ($15.99) is a hit Netflix film (80 million viewers) about a post-apocalyptic world in which a monster lives, and anyone who sees the mysterious force is driven to deadly violence.

Decluttering guru and Netflix star Marie Kondo’s Spark Joy: An Illustrated Master Class on the Art of Organizing and Tidying Up ($18.99) has revolutionized homes and lives across the world, and fanatics can go even further with her book featuring step-by-step illustrations.

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From the host of the television series and podcast “MeatEater,” The Meateater Fish and Game Cookbook: Recipes and Techniques for Every Hunter and Angler ($35) by Steven Rinella is a guide to cooking wild game, featuring more than 100 new recipes.

Now on Netflix, Salt, Fat, Acid, Heat: Mastering the Elements of Good Cooking ($37.50) by Samin Nosrat and Wendy MacNaughton is an ambitious new approach to cooking by mastering the use of the four title elements.

The Game of Thrones prequel by George R. R. Martin, Fire and Blood – 300 Years Before A Game of Thrones ($35), helps readers dive deeper into the history of the Targaryens.

Available in paperback in April 2019, The One ($15.99) by John Marrs explores a company that promises to match people up with their soulmates via DNA testing.

Finally, fans of the movies that are streaming on Hulu and anyone anticipating the upcoming Amazon Prime Video original series will want The Hobbit and Lord of the Rings: Deluxe Pocket Boxed Set ($49.95), a four-volume set containing The Hobbit and the three volumes of The Lord of the Rings.

 

Barnes & Noble Widens Q1 Loss

Barnes & Noble Sept. 6 reported a first-quarter (ended July 28) net loss of $17 million, up 70% from a net loss of $10.7 million during the previous-year period. Revenue dropped 7% to $794 million from $853 million last year.

The national bookseller’s Nook business, which includes digital media such as TV shows and movies, narrowed its operating loss to $330,000 from an operating loss of $2.7 million last year. Revenue dropped 14% to $25.2 million from $29.5 million last year.

“We fully realize that cutting expenses does not alone provide a path to the long-term viability of any retail business. Therefore, our short and long-term focus is to grow our top line, and, by doing so, provide us the cash flow needed to grow our business,” CEO Len Riggiosaid in a statement.

Riggio said comparable store sales continue to sequentially improve each month and continued into the second quarter. Indeed, same-store sales declines narrowed each month in the fiscal quarter from 7.8%, 6.1% and 4.5%, respectively.

“Thanks are due to our team of merchants and the entire store management group from top to bottom,” he said.