Barnes & Noble Education (BNED) Posts Q3 GAAP Loss of 7c/Share

Barnes & Noble Education (NYSE: BNED) reported Q3 EPS of ($0.07), which may not compare with the analyst estimate of $0.11. Revenue for the quarter came in at $518.4 million versus the consensus estimate of $534.42 million.

Excluding the impairment loss of $8.5 million, net of tax benefit, the Company reported non-GAAP net income of $4.9 million during the quarter, compared with net income of $8.7 million in the prior year period.

Comparable store sales decreased 4.1% for the quarter. Consistent with the past, the Spring Rush period extended beyond the quarter due to later school openings, as well as to the continued pattern of students buying course materials later in the semester. Factoring in the three additional weeks of February, comparable store sales decreased 2.9%, which is a slight improvement from similar comparable results for the second quarter.

For earnings history and earnings-related data on Barnes & Noble Education (BNED) click here.

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