Last quarter, Barnes & Noble guided for consolidated EBITDA of $175 million to $200 million and also mentioned the development of a long-term strategic turnaround plan which is expected to bring about improvements in fiscal 2019.
Barnes & Noble is developing a long-term strategic turnaround plan which is expected to bring about improvements in fiscal 2019
Early in July, Barnes & Noble fired its CEO Demos Parneros for policy violations and the company is now facing a lawsuit from the ousted chief executive. This comes as an additional burden for the retailer who is struggling to catch up in an environment that is ruled by Amazon, and whose attempts to run alongside the e-commerce firm have ended in heavy losses.
Many experts in the industry remain skeptical over Barnes & Noble’s future with some even speculating that the company might end up as an acquisition target. The first quarter results will be an indicator of whether there is hope for the year ahead or if the future still appears bleak for the old leader.
Other retailers such as Dick’s Sporting Goods, which reported earnings last week, posted growth in sales and earnings. While earnings beat expectations, sales missed the mark, causing a crash in the stock. Another rival, Office Depot beat analyst estimates on both the top and bottom lines for its Q2 2018 results which were released early in August.