Barnes & Noble reports sales and earnings for its fiscal 2017 first quarter ended July 30, 2016

New York, NY, 2016-Sep-09 — /EPR Retail News/ — Barnes & Noble, Inc. (NYSE: BKS) today (September 8, 2016) reported sales and earnings for its fiscal 2017 first quarter ended July 30, 2016.

Total sales for the first quarter were $913.9 million, declining 6.6% as compared to the prior year. 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.

Retail incurred an operating loss of $7.4 million during the quarter, which includes severance charges and consulting fees of $7.9 million resulting from Retail’s cost reduction initiatives.  NOOK incurred an operating loss of $14.0 million, which includes severance and transitional costs of $7.2 million related to the previously announced outsourcing of certain NOOK services and the closure of its California and Taiwan offices.

The consolidated first quarter net loss from continuing operations was $14.4 million, or $0.20 per share, as compared to a loss from continuing operations of $7.8 million, or $0.27 per share, in the prior year.  Excluding the charges noted above, the consolidated first quarter net loss from continuing operations would have been $5.0 million, or $0.07 per share.

Retail generated EBITDA of $17.6 million, inclusive of the Retail charges noted above.  Excluding the charges, Retail EBITDA would have been $25.5 million, a decline of $19.8 million versus the prior year, primarily as a result of the sales decrease.

NOOK EBITDA losses were $7.9 million, which includes the NOOK charges noted above.  Excluding the charges, NOOK EBITDA losses would have been $0.7 million, improving $16.6 million as compared to a year ago, due primarily to the Company’s cost rationalization efforts.

On a consolidated basis, the Company generated first quarter EBITDA of $9.6 million.  Excluding the charges noted above, consolidated EBITDA would have been $24.7 million, or $3.2 million lower than the prior year.

Return of Capital
During the quarter, the Company returned $20.8 million in cash to its shareholders, including $11.1 million in dividends and $9.7 million through share repurchases.  The Company acquired approximately 830,000 shares at an average price of $11.73 during the quarter under its share repurchase program.

Outlook
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.

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.

Conference Call
A conference call with Barnes & Noble, Inc.’s senior management will be webcast beginning at 10:00 A.M. ET on Thursday, September 8, 2016, and is accessible at www.barnesandnobleinc.com/webcasts.

Barnes & Noble, Inc. will report fiscal 2017 second quarter results on or about December 1, 2016.

Financial Tables
Download financial tables related to the sales and earnings for the fiscal 2017 first quarter ended July 30, 2016:

About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS) is a Fortune 500 company, the nation’s largest retail bookseller, and a leading retailer of content, digital media and educational products. The Company operates 638 Barnes & Noble bookstores in 50 states, and one of the Web’s premier e-commerce sites, BN.com (www.bn.com). The NOOK Digital business offers a lineup of popular NOOK (www.nook.com) tablets and eReaders and an expansive collection of digital reading and entertainment content through the NOOK Store®. The NOOK Store features more than 4 million digital books in the US plus periodicals, comics, apps, movies and TV shows, and offers the ability to enjoy content across a wide array of popular devices through Free NOOK Reading Apps™ available for Android™, iOS® and Windows®.

General information on Barnes & Noble, Inc. can be obtained by visiting the Company’s corporate website at www.barnesandnobleinc.com.

Forward-Looking Statements
This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and information relating to Barnes & Noble that are based on the beliefs of the management of Barnes & Noble as well as assumptions made by and information currently available to the management of Barnes & Noble. When used in this communication, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will,” “forecasts,” “projections,” and similar expressions, as they relate to Barnes & Noble or the management of Barnes & Noble, identify forward-looking statements.

Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the general economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble’s products, low growth or declining sales and net income due to various factors, including store closings, higher-than-anticipated or increasing costs, including with respect to store closings, relocation, occupancy (including in connection with lease renewals) and labor costs, the effects of competition, the risk of insufficient access to financing to implement future business initiatives, risks associated with data privacy and information security, risks associated with Barnes & Noble’s supply chain, including possible delays and disruptions and increases in shipping rates, various risks associated with the digital business, including the possible loss of customers, declines in digital content sales, risks and costs associated with ongoing efforts to rationalize the digital business and the digital business not being able to perform its obligations under the Samsung commercial agreement and the consequences thereof, the risk that financial and operational forecasts and projections are not achieved, the performance of Barnes & Noble’s initiatives including but not limited to its new store concept and e-commerce initiatives, unanticipated adverse litigation results or effects, potential infringement of Barnes & Noble’s intellectual property by third parties or by Barnes & Noble of the intellectual property of third parties, and other factors, including those factors discussed in detail in Item 1A, “Risk Factors,” in Barnes & Noble’s Annual Report on Form 10-K for the fiscal year ended April 30, 2016, and in Barnes & Noble’s other filings made hereafter from time to time with the SEC.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to Barnes & Noble or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. Barnes & Noble undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this communication.

Media Contact:
Mary Ellen Keating
Senior Vice President,
Corporate Communications
Barnes & Noble, Inc.
(212) 633-3323
mkeating@bn.com

Investor Contact:
Andy Milevoj
Vice President,
Investor Relations
Barnes & Noble, Inc.
(212) 633-3489
amilevoj@bn.com

Source: Barnes & Noble, Inc.

CarMax to release sales and earnings for the second quarter ended August 31, 2016 on September 21, 2016

RICHMOND, Va., 2016-Sep-08 — /EPR Retail News/ — CarMax, Inc. (NYSE:KMX) today (Sep. 7, 2016) announced details of its investor conference call to be conducted in conjunction with the release of sales and earnings for the second quarter ended August 31, 2016.

September 21, 2016 – Second Quarter Fiscal Year 2017 Earnings Conference Call

On September 21, CarMax will release sales and earnings for the second quarter ended August 31, 2016, and will host a conference call for investors at 9:00 a.m. ET. Investors may access the call as follows:

  • Dial 1-888-298-3261 (international callers dial 1-706-679-7457). The conference ID is 24693784.
  • A live webcast also will be available at investors.carmax.com.
  • A webcast replay of the call will be available at investors.carmax.com through December 19, 2016. A telephone replay also will be available through September 28, 2016, and may be accessed by dialing 1-855-859-2056 (international callers dial 1-404-537-3406). The conference ID is 24693784.

About CarMax
CarMax is the nation’s largest retailer of used cars and operates more than 160 stores in 37 states nationwide. CarMax revolutionized the auto industry by delivering the honest, transparent and high-integrity car buying experience customers want and deserve. For more than 20 years, CarMax has made car buying more ethical, fair and stress-free by offering a no-haggle, no-hassle experience and an incredible selection of vehicles. CarMax makes selling your car easy too, by offering no-obligation appraisals good for seven days. At CarMax, we’ll buy your car even if you don’t buy ours®. CarMax has more than 22,000 associates nationwide and for 12 consecutive years has been named as one of the FORTUNE 100 Best Companies to Work For®. During the 12 months ending February 29, 2016, the company retailed 619,936 used cars and sold 394,437 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.

Investors Contact:
Katharine Kenny
Vice President
Investor Relations
(804) 935-4591

Celeste Gunter
Manager
Investor Relations
(804) 935-4597

Media Contact:
pr@carmax.com
(855) 887-2915

Source: CarMax, Inc.

GameStop Corp. announces sales and earnings for the second quarter ended July 30, 2016

GRAPEVINE, TX , 2016-Aug-27 — /EPR Retail News/ — GameStop Corp. (NYSE: GME), a global family of specialty retail brands that makes the most popular technologies affordable and simple, today ( 08/25/16) reported sales and earnings for the second quarter ended July 30, 2016.

The following table summarizes the second quarter results for fiscal 2016 and 2015 ($ in millions, except per share amounts):

Quarter Ended
July 30, 2016 Aug. 1, 2015 Change
Net Sales $1,631.8 $1,761.9 -7.4%
Same store sales* -10.6% 8.1%
GAAP Net Income $27.9 $25.3 10.3%
GAAP Diluted EPS $0.27 $0.24 12.5%
Non-GAAP Net Income $27.9 $33.1 -15.7%
Non-GAAP Diluted EPS $0.27 $0.31 -12.9%
Technology Brands Operating Earnings $13.9 $0.4 3,375.0%
*excludes Technology Brands stores

Paul Raines, chief executive officer, stated, “As expected, the continued growth and increased profit contribution of our non-physical gaming businesses drove our second quarter results. Tech Brands sales grew more than 50%, omni-channel sales increased 16%, Collectibles sales more than doubled and year-to-date, more than half of GameStop’s operating earnings have come from non-physical gaming categories. These new businesses offset a tough quarter for video gaming and prove that our diversification strategy is succeeding.”

Second Quarter Results

Total global sales decreased 7.4% to $1.63 billion, while consolidated comparable store sales declined 10.6% (-12.5% in the U.S. and -5.9% internationally). Video game sales were impacted by a lack of new titles to offset strong Q2 2015 title launches, such as Batman: Arkhman Knight and Elder Scrolls Online, and a decline in hardware sales caused primarily by new information being released about upcoming new consoles. Pre-owned sales significantly outperformed the new side of the video game business, declining only 3.2% compared to the second quarter of 2015.

In July, GameStop, via its GameTrust division and partnership with Insomniac Games, launched its first Indie game, Song of the Deep. GameTrust has several new titles in development, including De-formers, set to launch this holiday.

Non-GAAP digital receipts rose 3.3%, to $205.6 million, driven by sales of DLC and console digital currency. GAAP digital sales decreased 12.7%.

Sales in the Mobile and Consumer Electronics category increased 43.0% to $203.3 million, as Technology Brands revenues increased 54.6% to $175.9 million. Technology Brands operating earnings were $13.9 million compared to $400,000 in the prior year quarter. Overall, this segment contributed 23.8% of the company’s second quarter operating earnings. Technology Brands is on track to deliver between $85 million and $100 million of operating earnings in fiscal 2016.

Collectibles sales rose 119.5% to $90.0 million, driven by sales of ThinkGeek.com, various Pokémon products, assorted Five Nights at Freddy’s skus and character pop vinyls from recently released movies like Suicide Squad. The company added ten Collectibles stores during the quarter, bringing the total global portfolio to 47 stores.

GameStop’s net earnings for the second quarter were $27.9 million, or $0.27 per diluted share, compared to diluted earnings per share of $0.24 in the prior year quarter. Non-GAAP earnings for the quarter were $27.9 million, or $0.27 per diluted share, compared to Non-GAAP earnings of $33.1 million, or $0.31 per diluted share, in the prior year quarter. Last year’s reconciliation of GAAP net income to non-GAAP net income is included with this release (Schedule III).

Capital Allocation Update

On August 22, 2016, GameStop’s board of directors declared a quarterly cash dividend of $0.37 per common share payable on September 22, 2016 to shareholders of record as of the close of business on September 9, 2016. As previously announced, GME acquired 507 new AT&T Mobility stores through the acquisition of three national AT&T authorized retailers for approximately $441 million.

Earnings Guidance

For the third quarter of fiscal 2016, GameStop expects comparable store sales to range from -2.0% to 1.0%. Diluted earnings per share are expected to range from $0.53 to $0.58. For fiscal 2016, the company is reiterating its full year diluted earnings per share guidance of $3.90 to $4.05 and comparable store sales are now expected to range of -4.5% to -1.5%.

Note: The guidance is based on weighted average shares outstanding of 104,500,000.

Conference Call Information

A conference call with GameStop Corp.’s management is scheduled for August 25, 2016 at 4:00 p.m. CT to discuss the company’s financial results. The phone number for the call is 888-500-6948 and the pass code is 5743731. This call, along with supplemental information, can also be accessed at GameStop Corp.’s investor relations home page at http://investor.GameStop.com/. The conference call will be archived for two months on GameStop’s corporate website.

About GameStop

GameStop Corp. (NYSE: GME), a Fortune 500 company headquartered in Grapevine, Texas, is a global, multichannel video game, consumer electronics and wireless services retailer. GameStop operates more than 7,500 stores across 14 countries. The company’s consumer product network also includes www.gamestop.com; www.Kongregate.com, a leading browser-based game site; Game Informer® magazine, the world’s leading print and digital video game publication; and ThinkGeek, www.thinkgeek.com, the premier retailer for the global geek community featuring exclusive and unique video game and pop culture products. In addition, our Technology Brands segment includes Simply Mac and Spring Mobile stores. Simply Mac, www.simplymac.com, operates 72 stores, selling the full line of Apple products, including laptops, tablets, and smartphones and offering Apple certified warranty and repair services. Spring Mobile, www.springmobile.com, sells all of AT&T’s products and services, including DIRECTV through its 1,424 AT&T branded stores and offers pre-paid wireless services, devices and related accessories through its 70 Cricket branded stores in select markets in the U.S.

General information about GameStop Corp. can be obtained at the company’s corporate website. Follow @GameStop on Twitter and find GameStop on Facebook at www.facebook.com/GameStop.

Non-GAAP Measures

As a supplement to our financial results presented in accordance with U.S. generally accepted accounting principles (GAAP), GameStop may use certain non-GAAP measures, such as digital receipts and constant currency, to provide a clearer perspective of the current operating performance of the company. GameStop defines digital receipts as the full amount paid by the customer for digital content at the time of sale and/or the value attributed to digital content when physical and digital products are sold combined. Results reported as constant currency exclude the impact of fluctuations in foreign currency exchange rates by converting our local currency financial results using the prior period exchange rates and comparing these adjusted amounts to our current period reported results. Our definition and calculation of constant currency information may differ from that of other companies. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the company’s reported GAAP financial results.

Safe Harbor

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, the outlook for the third quarter and fiscal 2016, future financial and operating results and projections, projected store openings, timing and terms of potential acquisitions, the company’s plans, objectives, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of GameStop’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. GameStop undertakes no obligation to publicly update or revise any forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the inability to obtain sufficient quantities of product to meet consumer demand, including console hardware and accessories; the timing of release and consumer demand for new and pre-owned video game titles; our ability to continue to expand, and successfully open and operate new stores for, our collectibles and tech brands businesses; risks associated with achievement of anticipated financial and operating results from acquisitions; our ability to sustain and grow our console digital video game sales; the risks associated with international operations, wireless industry partnerships and operations and the completion and integration of acquisitions; increased competition and changing technology in the video game industry, including browser and mobile games and digital distribution of console games, and the impact of that competition and those changes on physical video game sales; and economic, regulatory and other events, including litigation, that could reduce or impact consumer demand or affect the company’s business. Additional factors that could cause GameStop’s results to differ materially from those described in the forward-looking statements can be found in GameStop’s Annual Report on Form 10-K, as amended, for the fiscal year ended Jan. 30, 2016 filed with the SEC and available at the SEC’s Internet site at http://www.sec.gov or http://investor.GameStop.com.

Contact:
Matt Hodges
Vice President
Corporate Communications & Investor Relations
GameStop Corp.
(817) 424-2130

Source: GameStop Corporation

ICA Gruppen announces favourable earnings and higher market shares during Q2 report 2016

Solna, Sweden, 2016-Aug-22 — /EPR Retail News/ —

Second quarter of 2016 in summary

  • Consolidated net sales amounted to SEK 26,222 million (25,542), an increase of 2.7%
  • Operating profit excluding non-recurring items totalled SEK 1,154 million (1,018). Operating profit for the comparison period included costs of SEK 27 million associated with the acquisition and integration of Apotek Hjärtat
  • Profit from continuing operations (ICA Gruppen excl. ICA Norway) was SEK 829 million (786). Profit includes capital gains on sales of noncurrent assets and impairment losses totalling SEK -37 million, net (47)
  • Earnings per share for continuing operations were SEK 4.12 (3.77)
  • Cash flow from operating activities for continuing operations amounted to SEK 1,785 million
  • The same period in 2015 included SEK 1.2 billion of capital gain in earnings and SEK 2.8 billion in cash flow from the divestment of ICA Norway
  • inkClub was divested as per 29 June 2016, giving rise to a capital loss of SEK 30 million

After the end of the quarter

  • No significant events have taken place after the end of the quarter

Comment from the CEO of ICA Gruppen, Per Strömberg:

“ICA Gruppen continued to show favourable performance into the second quarter. All parts of the Group posted earnings improvements, except for ICA Bank. It is especially positive to note that we gained market shares and that the ICA stores in Sweden have had a few months with very good sales performance. On the negative side, we have experienced continued disruptions with associated high costs in our logistics operation in southern Sweden.”

Press and analyst meeting

ICA Gruppen is arranging a press and analyst meeting at Tändstickspalatset, Stockholm, on Wednesday, 17 August 2016 at 10.00 CET. CEO Per Strömberg and CFO Sven Lindskog will present the interim report. The meeting will be webcast and can be followed at  www.icagruppen.se/investerare. There is also an opportunity to call in on tel.

SE: +46856642694

UK: +442030089801

Calendar

9 November 2016                  Interim report January–September 2016

15 December 2016                Capital Markets Day

8 February 2017                    Year-end report 2016

ICA Gruppen discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at time 07.00 CET on Wednesday, August 17, 2016.

For further information, please contact:

Frans Benson
Head of Investor Relations
tel. +46 8-561 500 20

ICA Gruppen press service
Tel +46 10 422 52 52

Source: ICA Gruppen

Macy’s, Inc. to report its second quarter 2016 sales and earnings on Thursday, Aug. 11, 2016

CINCINNATI, 2016-Jul-09 — /EPR Retail News/ — Macy’s, Inc. (NYSE:M) is scheduled to report its second quarter 2016 sales and earnings before the opening of financial markets on Thursday, Aug. 11, 2016.

The company will webcast a call with financial analysts and investors that day at 10 a.m. ET. Macys, Inc.’s webcast is accessible to the media and general public via the company’s website at www.macysinc.com. Analysts and investors may call in on 1-888-211-9951, passcode 1044180. A replay of the conference call can be accessed on the website or by calling 1-888-203-1112 (same passcode) about two hours after the conclusion of the call.

Note that the second and third quarter announcement dates and conference call times are slightly different than in the past. Third quarter 2016 sales and earnings are now expected to be announced before the opening of financial markets on Thursday, Nov. 10, 2016.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2015 sales of $27.079 billion. The company operates about 870 stores in 45 states, the District of Columbia, Guamand Puerto Rico under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet, Macy’s Backstage and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale’s inDubai is operated by Al Tayer Group LLC under a license agreement.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

Contact:

Media
Jim Sluzewski
513-579-7764

Investors
Matt Stautberg
513-579-7780

Source: Macy’s, Inc.

Barnes & Noble posts $850 million retail sales in FY2016 Q4 and $4.0 billion for the full year

New York,NY, 2016-Jun-27 — /EPR Retail News/ — Barnes & Noble, Inc. (NYSE: BKS) today reported sales and earnings for its fiscal 2016 fourth quarter and full-year ended April 30, 2016.

Retail sales, which include Barnes & Noble stores and BN.com, were $850 million for the quarter and $4.0 billion for the full year, decreasing 2.2% and 1.9%, respectively.  Comparable store sales declined 0.8% for the quarter and were flat for the full year, in-line with Company guidance.  “Core” comparable store sales, which exclude sales of NOOK® products, declined 0.8% for the quarter, while increasing 0.4% for the full year, slightly below expectations of an approximate 1% increase.  Sales for both the quarter and the year were also impacted by store closures and lower online sales.

NOOK sales, which include digital content, devices and accessories, were $42.0 million for the quarter and $191.5 million for the full year, decreasing 20.0% and 27.4%, respectively, due primarily to lower device and content sales.

Consolidated sales were $877 million for the quarter and $4.16 billion for the year, decreasing 3.7% and 3.1%, respectively, as compared to the prior year.

Retail incurred an operating loss of $34.9 million for the quarter and an operating profit of $113.3 million for the year.  NOOK generated an operating loss of $23.1 million for the quarter and $98.6 million for the year.

The consolidated fourth quarter net loss from continuing operations was $30.6 million, or $0.42 per share, compared to a loss from continuing operations of $3.0 million, or $0.12 per share, in the prior year.  Fiscal 2016 consolidated net earnings from continuing operations were $14.7 million, or $0.05 per share, compared to net earnings from continuing operations of $32.9 million, or $0.15 per share, in the prior year.

For the fourth quarter, Retail incurred an EBITDA loss of $11.1 million, which includes a previously disclosed $20.9 million pension settlement charge related to the termination of the Company’s pension plan.  Excluding this charge, Retail EBITDA would have been $9.8 million during the quarter, a decline of $23.3 million versus the prior year, primarily on lower sales, increased promotional activity and higher store wages and benefit costs.

For the full year, Retail generated EBITDA of $215.2 million, inclusive of $35.2 million of charges, including the $20.9 million pension charge noted above, a $10.5 million executive severance charge related to the Barnes & Noble College spin-off and a $3.8 million publishing contract impairment.  Excluding these charges, Retail EBITDA would have been $250.4 million for the year, declining $67.3 million primarily on lower sales, increased advertising, higher store wages and expense deleverage.

Fourth quarter NOOK EBITDA losses were $14.9 million, which included approximately $4.0 million of expenses incurred to further rationalize the cost structure of the business.  These expenses include transitional costs to outsource certain technology functions, consulting fees, Retail integration costs, and expenses to exit the U.K., apps and video businesses.  Excluding these items, NOOK EBITDA losses would have been consistent with the third quarter.

Full year NOOK EBITDA losses were $64.7 million this year as compared to $83.9 million a year ago, a 23% decrease as the Company continues to focus on cost rationalization efforts.

On a consolidated basis, the fourth quarter EBITDA loss was $26.0 million, which includes the $20.9 million pension settlement charge. Excluding the charge, the fourth quarter consolidated EBITDA loss would have been $5.1 million.  For the full year, consolidated EBITDA was $150.5 million, which includes the $35.2 million of charges noted above.  Excluding the charges, consolidated EBITDA would have been $185.7 million for the full year.

Excluding the charges noted above, the consolidated fourth quarter net loss from continuing operations would have been $17.8 million, or $0.24 per share, and fiscal 2016 consolidated net earnings from continuing operations would have been $36.2 million, or $0.35 per share.

Return of Capital
During the quarter, the Company returned $21.5 million in cash to its shareholders, including $11.3 million in dividends and $10.2 million through share repurchases.  The Company acquired approximately 964,000 shares at an average price of $10.61 during the quarter under its share repurchase program.

Outlook
“As we look ahead to fiscal 2017 and beyond, we are focusing on executing a number of initiatives to grow bookstore and online sales, reduce Retail and NOOK expenses and grow our Membership base,” said Ron Boire, Chief Executive Officer of Barnes & Noble, Inc.  “We believe our marketing, merchandising and Membership initiatives will lead to increased traffic and conversion in our stores.  We are also excited about our plans to open four new concept stores opening later this year, beginning with the first store opening this October in Eastchester, NY.  We look forward to discussing these initiatives at our Investor Day.”

For fiscal year 2017, the Company expects comparable bookstore sales to be approximately flat to an increase of approximately 1%. The Company also expects full year consolidated EBITDA to be in a range of $200 million to $250 million, with Retail EBITDA of $240 million to $280 million and NOOK EBITDA losses declining to a range of $30 million to $40 million, including previously announced transitional costs.

Investor Day Webcast
The Company’s senior management will host an investor conference beginning at 9:00 A.M. ET on Thursday, June 23, 2016 to discuss the Company’s financial results, business strategy and longer-term outlook. The webcast of this investor conference can be accessed on Barnes & Noble, Inc.’s corporate website at www.barnesandnobleinc.com/webcasts.

Barnes & Noble, Inc. will report fiscal 2017 first quarter results on or about September 8, 2016.

Financial Tables
Download financial tables related to the sales and earnings for the fiscal 2016 fourth quarter and full-year ended April 30, 2016:

About Barnes & Noble, Inc.
Barnes & Noble, Inc. (NYSE: BKS) is a Fortune 500 company, the nation’s largest retail bookseller, and a leading retailer of content, digital media and educational products. The Company operates 640 Barnes & Noble bookstores in 50 states, and one of the Web’s premier e-commerce sites, BN.com (www.bn.com). The NOOK Digital business offers a lineup of popular NOOK (www.nook.com) tablets and eReaders and an expansive collection of digital reading and entertainment content through the NOOK Store®. The NOOK Store features more than 4 million digital books in the US plus periodicals, comics, apps, movies and TV shows, and offers the ability to enjoy content across a wide array of popular devices through Free NOOK Reading Apps™ available for Android™, iOS® and Windows®.General information on Barnes & Noble, Inc. can be obtained by visiting the Company’s corporate website at www.barnesandnobleinc.com.

Forward-Looking Statements
This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and information relating to Barnes & Noble that are based on the beliefs of the management of Barnes & Noble as well as assumptions made by and information currently available to the management of Barnes & Noble. When used in this communication, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will,” “forecasts,” “projections,” and similar expressions, as they relate to Barnes & Noble or the management of Barnes & Noble, identify forward-looking statements.

Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the general economic environment and consumer spending patterns, decreased consumer demand for Barnes & Noble’s products, low growth or declining sales and net income due to various factors, including store closings, higher-than-anticipated or increasing costs, including with respect to store closings, relocation, occupancy (including in connection with lease renewals) and labor costs, the effects of competition, the risk of insufficient access to financing to implement future business initiatives, risks associated with data privacy and information security, risks associated with Barnes & Noble’s supply chain, including possible delays and disruptions and increases in shipping rates, various risks associated with the digital business, including the possible loss of customers, declines in digital content sales, risks and costs associated with ongoing efforts to rationalize the digital business and the digital business not being able to perform its obligations under the Samsung commercial agreement and the consequences thereof,

the risk that financial and operational forecasts and projections are not achieved, the performance of Barnes & Noble’s initiatives including but not limited to its new store concept and e-commerce initiatives, unanticipated adverse litigation results or effects, potential infringement of Barnes & Noble’s intellectual property by third parties or by Barnes & Noble of the intellectual property of third parties, and other factors, including those factors discussed in detail in Item 1A, “Risk Factors,” in Barnes & Noble’s Annual Report on Form 10-K for the fiscal year ended May 2, 2015, and in Barnes & Noble’s other filings made hereafter from time to time with the SEC.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to Barnes & Noble or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. Barnes & Noble undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this communication.

Media Contact:
Mary Ellen Keating
Senior Vice President,
Corporate Communications
Barnes & Noble, Inc.
(212) 633-3323
mkeating@bn.com

Investor Contact:
Andy Milevoj
Vice President,
Investor Relations
Barnes & Noble, Inc.
(212) 633-3489
amilevoj@bn.com

Source: Barnes & Noble, Inc.

Apple® announced highest-ever revenue & earnings drive 48% increase in EPS for its fiscal 2015 first quarter ended December 27, 2014

  • Highest-ever revenue & earnings drive 48% increase in EPS
  • Growth led by record revenue from iPhone, Mac & App Store

CUPERTINO, California, 2015-1-28 — /EPR Retail News/ — Apple® today announced financial results for its fiscal 2015 first quarter ended December 27, 2014. The Company posted record quarterly revenue of $74.6 billion and record quarterly net profit of $18 billion, or $3.06 per diluted share. These results compare to revenue of $57.6 billion and net profit of $13.1 billion, or $2.07 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 37.9 percent in the year-ago quarter. International sales accounted for 65 percent of the quarter’s revenue.

The results were fueled by all-time record revenue from iPhone® and Mac® sales as well as record performance of the App Store℠. iPhone unit sales of 74.5 million also set a new record.

“We’d like to thank our customers for an incredible quarter, which saw demand for Apple products soar to an all-time high,” said Tim Cook, Apple’s CEO. “Our revenue grew 30 percent over last year to $74.6 billion, and the execution by our teams to achieve these results was simply phenomenal.”

“Our exceptional results produced EPS growth of 48 percent over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record,” said Luca Maestri, Apple’s CFO. “We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.”

Apple is providing the following guidance for its fiscal 2015 second quarter:

  • revenue between $52 billion and $55 billion
  • gross margin between 38.5 percent and 39.5 percent
  • operating expenses between $5.4 billion and $5.5 billion
  • other income/(expense) of $350 million
  • tax rate of 26.3 percent

Apple’s board of directors has declared a cash dividend of $.47 per share of the Company’s common stock. The dividend is payable on February 12, 2015, to shareholders of record as of the close of business on February 9, 2015.

Apple will provide live streaming of its Q1 2015 financial results conference call beginning at 2:00 p.m. PST on January 27, 2015 at www.apple.com/quicktime/qtv/earningsq115. This webcast will also be available for replay for approximately two weeks thereafter.

This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue, gross margin, operating expenses, other income/(expense), and tax rate. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 27, 2014, and its Form 10-Q for the fiscal quarter ended December 27, 2014 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

Press Contact:
Kristin Huguet
Apple
khuguet@apple.com
(408) 974-2414

Investor Relations Contacts:
Nancy Paxton
Apple
paxton1@apple.com
(408) 974-5420

Joan Hoover
Apple
hoover1@apple.com
(408) 974-4570

 

Apple, the Apple logo, Mac, Mac OS, Macintosh, iPhone and App Store are trademarks of Apple. Other company and product names may be trademarks of their respective owners.