Barnes & Noble (BKS) reported earnings Thur 8 Sept 2016 (b/o)

** charts before earnings **

** charts after earnings **

Barnes & Noble beats by $0.11, misses on revs; lowers comp guidance, reaffirms EBITDA:

• Reports Q1 (Jul) loss of $0.07 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of ($0.18); revenues fell 6.6% year/year to $913.9 mln vs the $958.12 mln Capital IQ Consensus.  
  • Retail sales, which include Barnes & Noble stores and BN.com, declined 6.1% to $881.7 million for the quarter.
  • Comparable store sales declined 6.0% for the quarter, softer than the Company's expectations, due in large part to lower traffic and the challenging retail environment.
  • NOOK sales, which include digital content, devices and accessories, declined 24.5% to $41.0 million for the quarter.
• 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 (down from flat to up 1%).
• 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.