Barnes & Noble Education Posts Wider Loss In Q1 - Quick Facts

(RTTNews) - Barnes & Noble Education, Inc. (BNED) reported a first quarter non-GAAP adjusted loss of $41.7 million, compared to a non-GAAP adjusted loss of $30.1 million in the prior year period. The company reported non-GAAP adjusted EBITDA loss of $38.0 million, compared to non-GAAP adjusted EBITDA loss of $25.1 million, a year ago.

First quarter consolidated sales were $204.0 million, down 36.2%, from prior year. The company noted that its first quarter is historically a low revenue period for the company, and its fiscal 2021 first quarter results were significantly impacted by the COVID-19 pandemic.

Shares of Barnes & Noble Education were down 6% in pre-market trade on Thursday.