Barnes and Noble FY 3Q15 Earnings Call Notes

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Spinning off B&N education business

“We also acquired Microsoft’s and Pearson’s NOOK Media interest which helped clear the path for Barnes & Noble Education to separate from our Retail business. On February 26, Barnes & Noble Education filed an S-1 registration statement with the SEC that addresses the separation in detail. We encourage everyone who wants to understand more detail around the proposed separation to review that S-1.”

“Barnes & Noble Education, which currently consists of our College business, is expected to grow both organically through new school contracts and through potential merger and acquisition activity in a fast-growing educational services market.”

1.7% comp increase

“I’m very proud of the efforts of the entire Retail organization that led to a 1.7% core comparable sales increase for the quarter. From our merchants who implemented several initiatives to drive traffic and sales in our stores to our booksellers who were on the frontlines every day to our development team that secured some of the best real estate across the country, everyone has contributed to our improving trends.”

A destination for communities that we serve

” through our one-of-a-kind in-store events, we have further reinforced Barnes & Noble as a destination for the communities that we serve. The team has also prudently managed expenses and improved store productivity despite the declining sales trends over the past several years.”

The company has been working hard to improve sales

“Well, the company has been working hard at improving its sales. We’ve seen the sales trends improve over the last few quarters, mostly driven by merchandising initiatives, which we’ve invested in our stores to drive and turnaround comps. And I think the numbers reflect that.”