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Barnes & Noble Education Inc (BNED-10.83%). has submitted its 10-Q filing for the quarterly period ended January 25, 2025.
The filing reports total revenue of $466.3 million for the quarter, an increase from $456.7 million in the same quarter of the previous year. This growth is attributed to the expansion of their BNC First Day® programs.
Gross profit for the quarter was $96.4 million, compared to $100.0 million in the previous year. The decrease is due to higher markdowns and inventory reserves.
Selling and administrative expenses decreased to $71.6 million from $79.8 million, reflecting cost-saving initiatives and store closures.
The company reported an operating income of $22.9 million for the quarter, up from $0.9 million in the previous year, driven by reduced expenses and increased sales.
Net income for the quarter was $7.1 million, compared to a net loss of $9.9 million in the previous year.
Cash flows used in operating activities were $138.5 million for the year to date, compared to $83.2 million in the prior year, primarily due to timing of receivables and payables.
Barnes & Noble Education completed a refinancing of its credit facility, providing access to a $325 million facility maturing in 2028, enhancing financial flexibility.
The company continues to focus on its BNC First Day® programs, which contributed significantly to sales growth, and plans to scale these programs further.
Barnes & Noble Education did not repurchase any shares under its stock repurchase program during the quarter, maintaining approximately $26.7 million available under the program.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Barnes & Noble Education Inc quarterly 10-Q report dated March 10, 2025. To report an error, please email earnings@qz.com.