Barnes & Noble Education Announces It Is Adjusting the Time of Its Second Quarter Fiscal Year 2024 Earnings Release and Conference Call
05 Décembre 2023 - 10:44PM
Business Wire
Barnes & Noble Education, Inc. (NYSE: BNED), a
leading solutions provider for the education industry, today
announced the Company has adjusted the time of its second quarter
fiscal year 2024 earnings investor conference call to 4:30 p.m.
Eastern Time on Wednesday, December 6, 2023, from Wednesday,
December 6, 2023, at 8:30 a.m. Eastern Time. The Company expects to
release its fiscal year 2024 second quarter earnings results on
Wednesday, December 6, 2023, immediately after market close.
This call is being webcast and can be accessed at Barnes &
Noble Education’s corporate website at www.bned.com. The webcast of
this call will be archived and available for three months on Barnes
& Noble Education’s corporate website.
ABOUT BARNES & NOBLE EDUCATION, INC. Barnes &
Noble Education, Inc. (NYSE: BNED) is a leading solutions
provider for the education industry, driving affordability, access
and achievement at hundreds of academic institutions nationwide and
ensuring millions of students are equipped for success in the
classroom and beyond. Through its family of brands, BNED offers
campus retail services and academic solutions, a digital
direct-to-student learning ecosystem, unparalleled best-in-class
assortment of school apparel through a strategic alliance with
Fanatics and Lids, wholesale capabilities and more. BNED is a
company serving all who work to elevate their lives through
education, supporting students, faculty and institutions as they
make tomorrow a better, more inclusive and smarter world. For more
information, visit www.bned.com.
Forward-Looking Statements This press release contains
certain “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995 and information
relating to us and our business that are based on the beliefs of
our management as well as assumptions made by and information
currently available to our management. When used in this
communication, the words “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “plan,” “will,” “forecasts,” “projections,” and
similar expressions, as they relate to us or our management,
identify forward-looking statements. Moreover, we operate in a very
competitive and rapidly changing environment. New risks emerge from
time to time. It is not possible for our management to predict all
risks, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statements we may make. In light of these
risks, uncertainties and assumptions, the future events and trends
discussed in this press release may not occur and actual results
could differ materially and adversely from those anticipated or
implied in the forward-looking statements. Such statements reflect
our current views with respect to future events, the outcome of
which is subject to certain risks, including, among others: the
amount of our indebtedness and ability to comply with covenants
applicable to current and /or any future debt financing; our
ability to satisfy future capital and liquidity requirements; our
ability to access the credit and capital markets at the times and
in the amounts needed and on acceptable terms; our ability to
maintain adequate liquidity levels to support ongoing inventory
purchases and related vendor payments in a timely manner; our
ability to attract and retain employees; the pace of equitable
access adoption in the marketplace is slower than anticipated and
our ability to successfully convert the majority of our
institutions to our BNC First Day® equitable and inclusive access
course material models or successfully compete with third parties
that provide similar equitable and inclusive access solutions; the
strategic objectives, successful integration, anticipated
synergies, and/or other expected potential benefits of various
strategic and restructuring initiatives, may not be fully realized
or may take longer than expected; dependency on strategic
partnerships, such as with VitalSource Technologies, Inc. and the
Fanatics Retail Group Fulfillment, LLC, Inc. (“Fanatics”) and
Fanatics Lids College, Inc. D/B/A "Lids" (“Lids”) (collectively
referred to herein as the “F/L Relationship”), and the potential
for adverse operational and financial changes to these
partnerships, may adversely impact our business; non-renewal of
managed bookstore, physical and/or online store contracts and
higher-than-anticipated store closings; decisions by colleges and
universities to outsource their physical and/or online bookstore
operations or change the operation of their bookstores; general
competitive conditions, including actions our competitors and
content providers may take to grow their businesses; the risk of
changes in price or in formats of course materials by publishers,
which could negatively impact revenues and margin; changes to
purchase or rental terms, payment terms, return policies, the
discount or margin on products or other terms with our suppliers;
product shortages, including decreases in the used textbook
inventory supply associated with the implementation of publishers’
digital offerings and direct to student textbook consignment rental
programs; work stoppages or increases in labor costs; possible
increases in shipping rates or interruptions in shipping services;
a decline in college enrollment or decreased funding available for
students; decreased consumer demand for our products, low growth or
declining sales; the general economic environment and consumer
spending patterns; trends and challenges to our business and in the
locations in which we have stores; risks associated with operation
or performance of MBS Textbook Exchange, LLC’s point-of-sales
systems that are sold to college bookstore customers; technological
changes, including the adoption of artificial intelligence
technologies for educational content; risks associated with
counterfeit and piracy of digital and print materials; risks
associated with data privacy, information security and intellectual
property; disruptions to our information technology systems,
infrastructure, data, supplier systems, and customer ordering and
payment systems due to computer malware, viruses, hacking and
phishing attacks, resulting in harm to our business and results of
operations; disruption of or interference with third party web
service providers and our own proprietary technology; risks
associated with the impact that public health crises, epidemics,
and pandemics, such as the COVID-19 pandemic, have on the overall
demand for BNED products and services, our operations, the
operations of our suppliers and other business partners, and the
effectiveness of our response to these risks; lingering impacts
that public health crises may have on the ability of our suppliers
to manufacture or source products, particularly from outside of the
United States; changes in domestic and international laws or
regulations, including U.S. tax reform, changes in tax rates, laws
and regulations, as well as related guidance; enactment of laws or
changes in enforcement practices which may restrict or prohibit our
use of texts, emails, interest based online advertising, or similar
marketing and sales activities; adverse results from litigation,
governmental investigations, tax-related proceedings, or audits;
changes in accounting standards; and the other risks and
uncertainties detailed in the section titled “Risk Factors” in Part
I - Item 1A in our Form 10-K for the year-ended April 29, 2023.
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 us or
persons acting on our behalf are expressly qualified in their
entirety by the cautionary statements in this paragraph. We
undertake 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 press
release.
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Investor Contact: Hunter Blankenbaker Vice President
Corporate Communications and Investor Relations Barnes & Noble
Education, Inc. (908) 991-2776 hblankenbaker@bned.com
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