Barnes & Noble Posts Wider Q1 Loss - Quick Facts

(RTTNews) - Barnes & Noble, Inc. (BKS) reported that its first-quarter net loss available to common shareholders widened to $44.5 million from a loss of $33.1 million, a year ago. Consolidated EBITDA loss was $6.4 million, a $36 million decrease from EBITDA of $29.5 million, last year. Loss per share was $0.68, compared to a loss of $0.56 per share, prior year.

Analysts polled by Thomson Reuters expected the company to report profit per share of $0.12 for the quarter. Analysts' estimates typically exclude special items. First quarter consolidated revenues decreased 1.5% to $1.22 billion as compared to the prior year. Analysts expected revenue of $999.25 million for the quarter.

The Retail segment, which includes Barnes & Noble bookstores and BN.com, had revenues of $939 million for the quarter, down 1.7% as compared to the prior year. Comparable store sales increased 1.1% for the quarter, benefitting from growth in non-book categories. Core comparable bookstore sales, which exclude sales of NOOK products, increased 1.0% for the quarter.

The company also announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share payable on October 30, 2015, to stockholders of record on October 20, 2015.

Allen Lindstrom, CFO of Barnes & Noble, said: "As we look to the second quarter and beyond, we are focused on opportunities to increase comparable store sales and reduce expenses. The company plans to further reduce NOOK expenses through synergies with the Retail business and we expect to see those benefits during the balance of the fiscal year."

For fiscal 2016, the company continues to expect Retail core comparable bookstore sales, which exclude sales of NOOK products, to increase approximately 1%. The company expects fiscal year EBITDA losses in the NOOK segment to decline from the prior year.