Barnes & Noble (BKS) Tops Q1 EPS by 6c, Offers Outlook
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Barnes & Noble (NYSE: BKS) reported Q1 EPS of ($0.07), $0.06 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $913.9 million versus the consensus estimate of $958.68 million.
The Company remains focused on executing its previously announced strategic initiatives to increase sales and reduce expenses. Given the softer than expected sales results to date, and the expected continuation of the challenging retail environment, the Company now expects fiscal 2017 comparable store sales to decline in the low single digits.
Although the Company is reducing its comparable store sales expectations, through its expense reduction initiatives, it continues to expect full year consolidated EBITDA to be in a range of $200 million to $250 million. Retail EBITDA is expected to be in a range of $240 million to $280 million, excluding the impact of any charges related to its cost reduction initiatives and costs associated with the recent CEO departure. NOOK EBITDA losses are expected to decline to a range of $30 million to $40 million, including previously announced transitional costs.
For earnings history and earnings-related data on Barnes & Noble (BKS) click here.
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