B&N Losing in 2018Q2

Total sales at Barnes & Noble fell 6.0% in the fiscal year ended April 28, 2018, compared to fiscal 2017, and the retailer posted a net loss of $125.5 million last year, compared to net income of $22.0 million in fiscal 2017. Revenue last year was $3.66 billion, down from $3.89 billion in fiscal 2017.

The net loss includes a host of one-time charges: impairment charges of $135.4 million, $16.2 million of severance charges, and $15.3 million of strategic initiative costs. Excluding one-time charges in both fiscal years, EBITDA (earnings before interest, taxes, depreciation, and amortization) was $145.4 million in fiscal 2018, down from $187.2 million a year ago.

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