Barnes & Noble (BKS) Q3 Comps Decline 5.8%

Barnes & Noble (NYSE: BKS) reported Q3 EPS of ($0.87), may not compare to the analyst estimate of $0.97. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.21 billion.

• Third quarter results include a non-cash goodwill impairment charge of $133.6 million, and a severance charge of $10.7 million associated with the Company’s transition to a new labor model.

Comparable store sales decreased 5.8% for the quarter, primarily due to lower traffic. Comparable store sales trends did improve in January, declining 3.5%.

Outlook

For fiscal 2018, the Company expects comparable store sales to decline in the mid-single digits and consolidated EBITDA to be in a range of $140 million to $160 million, excluding unusual or non-recurring items.

For earnings history and earnings-related data on Barnes & Noble (BKS) click here.

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