Barnes & Noble Education misses top-line estimates in Q1

Barnes & Noble Education reported first quarter results in which revenue fell short of expectations, though the company managed to narrow its loss. The education solutions provider detailed a loss per share of -$0.37, slightly better than the estimate of -$0.49. However, revenue for the quarter reached $290.6 million, below the anticipated $307.06 million.

Still, revenue grew by 0.8% year-over-year, climbing from $288.2 million. Growth was primarily fueled by a 9% increase in BNC First Day® programs to $124.7 million, offset by store closures. Comparable store sales rose by 3.7% year-over-year. Despite the setback, CEO Jonathan Shar expressed optimism, stating that the company began the fiscal year on track with momentum across its operations.

Barnes & Noble Education anticipates capital expenditures of around $20 million and maintained its adjusted EBITDA target for fiscal 2027 between $85 million and $92 million.