| Over a month ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on January 27 hosted by Craig Hallum. | ||||
Virtual Meeting to be… Virtual Meeting to be held on January 27 hosted by Craig Hallum. | ||||
Barnes & Noble… Barnes & Noble Education is up 10.0%, or 51c to $5.63. | ||||
Barnes & Noble… Barnes & Noble Education is up 10.1%, or 52c to $5.64. | ||||
Check out this morning's…
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Thomas Donohue, the CFO… Thomas Donohue, the CFO of Barnes & Noble Education said he expects to continue slashing costs with another semester of remote learning on the horizon, forcing the company to keep a number of its campus outlets closed, Mark Maurer of the Wall Street Journal reported. While he doesn't foresee more workforce reductions, Donohue noted he is analyzing other costs such as fees the company pays to colleges. Despite inventory issues, the company has not permanently closed any campus bookstores due to COVID-19. Reference Link | |
Barnes & Noble… Barnes & Noble Education, or BNED, announced it has entered into a long-term strategic omnichannel merchandising partnership with Fanatics and Lids. Fanatics' e-commerce and technology expertise will offer BNED campus stores expanded product selection, an online and mobile experience, and a direct-to-consumer platform. Coupled with Lids, the retailer focused on licensed fan and alumni products, BNC and its campus stores will have improved access to trend and sales performance data on licensees, product styles, and design treatments from more than 1,200 Lids stores. Under the terms of the agreement, Fanatics and Lids will jointly make a $15M strategic equity investment in BNED and receive 2,307,692 common shares of BNED in exchange, representing a share price of $6.50 per share. BNC will maintain its relationships with campus partners and remain responsible for staffing and managing the day-to-day operations of its campus bookstores. It will also work closely with its campus partners to ensure that each BNC campus store will maintain aspects of in-store merchandising, including localized product assortments and specific styles and designs that reflect each campus's brand. BNED will leverage Fanatics' operational management of the merchandise and gift sections of BNC campus store web sites. Lids will manage in-store assortment planning and merchandising of emblematic apparel, headwear, and gift products for BNC partner campus stores. | |
Reports Q2 revenue… Reports Q2 revenue $595.5M, consensus $522.59M. "Our teams continued to make tremendous progress in growing and enhancing our offerings and services this quarter, despite the many challenges presented by the ongoing COVID-19 pandemic. As students adjusted to a blended learning environment on campuses nationwide this fall, our flexible offerings ensured that students were equipped with their course materials regardless of whether their schools resumed classes on campus, remotely or adopted a hybrid learning model," said Michael P. Huseby, Chief Executive Officer and Chairman, BNED. "Our bartleby direct-to-student offerings became increasingly relevant in this environment, providing students with the academic support they need. We continue to scale our bartleby solutions through our existing channels, such as in-store sales and SEO, in addition to leveraging new channels, such as our recently announced Blackboard Assist partnership, to ensure we are providing widespread access to digital learning support at a time when students need it most." |
| Over a quarter ago | ||||
Conference call with… Conference call with management to be held on October 14 hosted by Craig Hallum. | ||||
Barnes & Noble… Barnes & Noble College announced it has partnered with Sam Houston State University in Huntsville, Texas, to introduce the Bearkat Bundle, a new course material delivery model that will drive affordability, access and convenience for students. The Bearkat Bundle is a custom-branded version of the Barnes & Noble College First Day Complete program. First Day Complete addresses affordability and equitable access across all courses at an institution by bundling the cost of materials into a flat rate fee for all students. The program results in a 35% to 50% average reduction in cost to students, and ensures they have all of their materials for the semester available to them before the first day of class. In addition, First Day Complete fully supports academic freedom and faculty choice. Faculty members can choose the materials that are best suited for their teaching, regardless of publisher or format. | ||||