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News Breaks
June 5, 2014
08:32 EDTBKSBarnes & Noble says NOOK will relocate to Santa Clara, Mountain View campuses
Barnes & Noble announced that NOOK Media, LLC, has entered into an Assignment of Lease for its 208,000 square foot Palo Alto, California campus. Employees will be relocated to new state-of-the art facilities totaling 88,000 square feet. NOOK employees will move to a new facility in Santa Clara, California, while Barnes & Noble College’s digital education employees will relocate to a facility in Mountain View, California. The relocations are expected to occur by the end of the first quarter of fiscal 2015. This action will result in a net reduction of annual occupancy expenses of approximately $10M, reducing the company’s future lease commitments by approximately $102M. The asset impairment charges resulting from this relocation are approximately $30M, which are expected to be recorded in the fourth quarter of fiscal 2014. The company also expects to incur cash closing costs and to adjust lease accounting items in the first quarter of fiscal 2015 to reflect the impact of these relocations. “This move is a significant step in our ongoing efforts to both rationalize and better equip the NOOK business to achieve success, while positioning the digital education team and platform for future growth,” said Michael P. Huseby, CEO of Barnes & Noble, Inc. “These relocations result in work environments and related cost structure impacts that are better aligned with our business objectives and our employees’ expressed needs.”
News For BKS From The Last 14 Days
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September 18, 2014
05:28 EDTBKSBarnes & Noble NOOK Press partners with The Bookseller
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September 15, 2014
10:56 EDTBKSOptions with decreasing implied volatility
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September 12, 2014
10:35 EDTBKSOptions with decreasing implied volatility
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08:03 EDTBKSBarnes & Noble 's NOOK Media signs multi-platform partnership with ESI Media
ESI Media and NOOK Media, LLC, a subsidiary of Barnes & Noble, announced they will be working together on a multi-platform partnership to build on the success of last year’s Get London Reading initiative. Designed to address low literacy rates in London schools, while highlighting NOOK’s commitment to making reading more accessible and affordable across the UK, it will include sponsorship of the Best Play accolade at the Evening Standard Theatre Awards and on-going support for the London Evening Standard Get London Reading campaign. This partnership builds on the success of last year’s support by NOOK of the London Evening Standard’s pioneering campaign to champion literacy amongst children. The joint campaign will include a free eBook offer and other special co-branded promotions, alongside display advertising campaigns across the Evening Standard’s print and digital platforms.
September 11, 2014
11:07 EDTBKSOptions with decreasing implied volatility
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September 10, 2014
11:22 EDTBKSOptions with decreasing implied volatility
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September 9, 2014
12:02 EDTBKSOptions with decreasing implied volatility
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10:29 EDTBKSBarnes & Noble says third parties see value in NOOK assets
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10:18 EDTBKSBarnes & Noble says won't launch new bn.com in time for holiday season
Says "extremely happy" with Retail's Q1 performance, sees moderation of physical booksales decline. Says sees sales lift due to dispute between Amazon (AMZN) and Hachette. Regarding the launch of bn.com says making progress on development, but completion taking longer than expected. The company plans to launch the new site later this FY, but not in time for holiday season. Comments made on the Q1 earnings conference call.
08:37 EDTBKSBarnes & Noble's NOOK launched first co-branded tablet with Samsung
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08:33 EDTBKSBarnes & Noble sees FY15 college SSS to decline low-single digits
For FY15 the company continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits. College comparable store sales are also expected to decline in the low-single digits. The company expects full fiscal year EBITDA losses in the NOOK segment to decline versus the prior year.
08:32 EDTBKSBarnes & Noble says making progress on separation of Retail and NOOK Media
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08:32 EDTBKSBarnes & Noble reports Q1 EPS (56c), consensus (63c)
Reports Q1 revenue $1.2B, consensus $1.26B. “Core” comparable bookstore sales, which exclude sales of NOOK products, decreased 0.4% for the quarter. Comparable College store sales decreased 2.0% for the quarter, primarily impacted by the timing of the start of the back-to-school rush season as compared to last year. Comparable College store sales reflect the retail selling price of new or used textbooks when rented, rather than solely the rental fees received and amortized over the rental period. The NOOK segment had revenues of $70 million for the quarter, decreasing 54.3% from a year ago.
06:29 EDTBKSBarnes & Noble results likely to highlight retail business strength, WSJ says
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September 8, 2014
15:27 EDTBKSNotable companies reporting before tomorrow's open
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13:53 EDTBKSBarnes & Noble September volatility increases into Q1 and guidance
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