Barnes & Noble Education Inc
NYSE:BNED
Barnes & Noble Education Inc
Barnes and Noble Education, Inc. engages in the management and operation of bookstore chains in universities. The company is headquartered in Basking Ridge, New Jersey and currently employs 2,761 full-time employees. The company went IPO on 2015-07-23. The firm is also a textbook wholesaler, inventory management hardware and software providers, and provider of digital education solutions. The firm operates through three segments: Retail, Wholesale and Digital Student Solutions (DSS). The Retail segment operates approximately 1,445 college, university and K-12 school bookstores, consist of approximately 794 physical bookstores and 651 virtual bookstores. The Wholesale segment sources, sells and distributes new and used textbooks to approximately 3,200 physical bookstores, including its Retail Segment's physical bookstores and sources and distributes new and used textbooks to its virtual bookstores. DSS segment includes direct-to-student products and services to assist students to study more effectively and improve academic performance.
Barnes and Noble Education, Inc. engages in the management and operation of bookstore chains in universities. The company is headquartered in Basking Ridge, New Jersey and currently employs 2,761 full-time employees. The company went IPO on 2015-07-23. The firm is also a textbook wholesaler, inventory management hardware and software providers, and provider of digital education solutions. The firm operates through three segments: Retail, Wholesale and Digital Student Solutions (DSS). The Retail segment operates approximately 1,445 college, university and K-12 school bookstores, consist of approximately 794 physical bookstores and 651 virtual bookstores. The Wholesale segment sources, sells and distributes new and used textbooks to approximately 3,200 physical bookstores, including its Retail Segment's physical bookstores and sources and distributes new and used textbooks to its virtual bookstores. DSS segment includes direct-to-student products and services to assist students to study more effectively and improve academic performance.
Revenue Growth: Total revenue increased slightly to $610.4 million, up 0.3% from the prior year, driven by strong growth in First Day programs.
First Day Complete Surge: First Day Complete revenue rose 52% year-over-year to $136 million, and combined First Day programs reached $199 million, now nearing 50% of course material revenue.
Profitability Improvement: Adjusted EBITDA jumped 28% to $50.3 million, helped by $13 million in reduced selling and administrative expenses.
Cost Savings: The company achieved its planned annual cost savings target of $30–35 million.
Guidance Maintained: Fiscal 2024 adjusted EBITDA guidance remains at approximately $40 million.
Positive Outlook for FDC: Management highlighted a strong pipeline of new schools for the First Day Complete model, with participation rates exceeding expectations and momentum expected to accelerate.
