Friday, March 8, 2019

Barnes & Noble forecasts more gloom ahead

Ad Age
Barnes & Noble Inc. slashed its outlook for this year—an admission that the scenario is worsening for the chain as it considers options including finding a potential buyer.

The company cut its guidance. It sees 2019 earnings in a range of $140 million to $155 million, well below the $175 million to $200 million it had forecast as recently as November. The bookseller already warned in January it had a bad holiday, noting it was mulling cutting its earnings guidance after it spent more on advertising and gave deep discounts. . . . more