BARNES & NOBLE INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2019 10-K, filed Jun 19, 2019. Its latest SEC filing is a 15-12B from Aug 19, 2019.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells books, digital reading products and other retail goods through bookstores and an online store to consumers.

How Did They Make Money?

In-store product sales take place at checkout; online sales are completed when customers receive shipments. The company also earns commissions on some digital book sales and annual membership fees.

FY2019 revenue

Who Were Their Customers?

Readers and other shoppers buy directly in Barnes & Noble bookstores and through its website; online customers can have books sent to a store or shipped to them.

Did Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2019, but spent more cash than it brought in: free cash flow was −$7.7M.

Operating income, FY2019

0% of revenue

▲ Now profitable vs FY2018 (−$127.9M, −3%)

Net income, FY2019

0% of revenue

▲ Now profitable vs FY2018 (−$125.5M, −3%)

Free cash flow, FY2019

0% of revenue

▼ −85% (Loss) vs FY2018 (−$50.5M, −1%)

How Were They Changing?

Since the FY2019 annual report

Aug 7, 2019 Elliott completed its acquisition of Barnes & Noble Barnes & Noble became a privately held, indirect wholly owned subsidiary of Elliott; its common stock ceased trading on the NYSE.
Jun 24, 2019 Acquisition agreement shifted to a tender offer and merger The amended agreement called for an all-cash tender offer followed by a merger.

Shrank. Revenue fell 17% in 4 years, from $4.3B in FY2015 to $3.6B in FY2019, about 5% a year.

Who Did They Compete With?

Competes with Costco, Target, Wal-Mart, Amazon.com, Books-A-Million, and Apple

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