Barnes & Noble Education to Reschedule Its Third Quarter Fiscal Year 2024 Earnings Release and Conference Call
March 07 2024 - 9:00AM
Business Wire
Barnes & Noble Education, Inc. (NYSE: BNED) (“BNED”
or the “Company”), a leading solutions provider for the education
industry, today announced that the Company is rescheduling its
third quarter fiscal year 2024 earnings press release and investor
conference call previously scheduled for Thursday, March 7, 2024 at
4:30 p.m. Eastern Time.
BNED intends to issue a press release announcing the new date
and time of its third quarter fiscal year 2024 earnings release and
conference call as soon as possible.
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 continue
as a going concern: 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 United States Department of Education has recently
proposed regulatory changes that, if adopted as proposed, could
impact equitable and inclusive access models across the higher
education industry; 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 service provider relationships, 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 strategic service provider
relationships, 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 the potential loss of control over personal
information; risks associated with the potential misappropriation
of our 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 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, service providers, and
campus 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
applicable domestic and international laws, rules or regulations,
including, without limitation, U.S. tax reform, changes in tax
rates, laws and regulations, as well as related guidance; changes
in and enactment of applicable laws, rules or regulations or
changes in enforcement practices including, without limitation,
with regard to consumer data privacy rights, which may restrict or
prohibit our use of consumer personal information for 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 Annual Report on Form 10-K for the fiscal 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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