Barnes & Noble Inc. (BKS) is scheduled to report first-quarter 2019 earnings results on September 6. Analysts estimate Barnes & Noble to achieve revenues of more than $1 billion in Q1 2019 which is higher than the $786 million delivered in Q4 2018 and $853 million posted in Q1 2018. However, the company is likely to deliver a loss for this quarter too which is currently estimated at around $0.22.
For the fourth quarter and fiscal year of 2018, the company posted sales declines of 4.3% and 6% respectively. The retailer also reported losses for both periods with a net loss of $0.29 per share for Q4 and a loss of $1.73 per share for the full year.
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.
Most Popular
Key highlights from Autodesk (ADSK) Q4 2021 earnings results
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic stock tanks on delayed test flight
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000
