Barnes & Noble tumbles as quarterly loss widens

Barnes & Noble Education

31/08/2022 13:53

** Shares of educational services provider Barnes & Noble
 BNED.N  down 23% premarket as co reports bigger quarterly loss
    ** Q1 net loss widens to $52.7 mln from $43.6 mln a year ago
 urn:newsml:reuters.com:*:nBw2rDXzra
    ** Results hurt by challenges within company's wholesale
business, constrained used book inventory and higher
inflationary pressures on wages and freight
    ** Co sees fiscal year 2023 adjusted EBITDA between $30 mln
and $40 mln, expects improvement in its retail business 
    ** YTD, BNED shares down ~67%

 (Reporting by Priyamvada C in Bengaluru)
 ((Priyamvada.c@thomsonreuters.com))