barnes & noble inc (BKS) Key Developments
Barnes & Noble to Separate College Business from Retail and Nook Digital Businesses
Feb 26 15
Barnes & Noble, Inc. announced the filing of a Registration Statement with the U.S. Securities and Exchange Commission in order to effect a separation of Barnes & Noble Education (which comprises the Barnes & Noble College business) from Barnes & Noble's Retail and NOOK Digital businesses. The planned separation will, when consummated, create two independent, publicly traded companies. The separation is intended to be a tax-free distribution to Barnes & Noble shareholders and is anticipated to be completed by the end of August 2015, subject to customary conditions. Barnes & Noble believes that the separation will allow each business to optimize its strategic opportunities. As more focused companies with differing potential growth profiles, capital needs and market dynamics, each company will benefit from strategic clarity and separate management and Board focus. The separation will also allow investors to assess each business more clearly as a stand-alone company.
BKS Seeks Strategic Opportunities
Feb 26 15
Michael P. Huseby, Chief Executive Office of Barnes & Noble, Inc. (NYSE:BKS), said, "Separating Barnes & Noble Education will create an industry-leading, pure-play public company with more flexibility to pursue strategic opportunities in the growing educational services markets. At the same time, Barnes & Noble will be able to better capitalize on improving industry trends and merchandising initiatives within its core Retail business. Retail and the NOOK Digital Business will be able to leverage a more integrated technology infrastructure for improved efficiency and to better serve digital customers."
Barnes & Noble, Inc. Announces an Exclusive I Totally FunniestJoke Drive at Barnes & Noble Stores Across the Country
Feb 19 15
Barnes & Noble, Inc. announced an exclusive I Totally FunniestJoke Drive at Barnes & Noble stores across the country. Barnes & Noble is joining forces with James Patterson, the record-breaking bestselling author, to launch the I Totally FunniestJoke Drive in an effort to help Jamie Grimm, the main character in the bestselling I Funny series for young readers, fulfill his dream of getting his own TV show. Jamie Grimm is a middle schooler on a mission: he wants to become the world's greatest stand-up comedian. To support his quest, customers are invited to visit any Barnes & Noble location to submit their favorite joke, funny caption or one-liner via the Joke Drive Activity Sheet provided at the I Totally Funniest Joke Drive Box.
Barnes & Noble, Inc. Announces to Retire Mitchell Klipper as Chief Executive Officer of the Retail Group at the End of the Fiscal Year Ending May 2, 2015
Jan 20 15
Barnes & Noble, Inc. announced that Mitchell Klipper, Chief Executive Officer of the Retail Group, will retire at the end of the fiscal year ending May 2, 2015 but will remain with the Company in the role of special advisor on real estate and other matters.
Barnes & Noble, Inc. Provides Sales Guidance for Full Fiscal Year 2014
Jan 8 15
Based on the better than expected Retail Core comparable bookstore sales performance, Barnes & Noble, Inc. now expects full-year Retail Core comparable bookstore sales to be approximately flat. The company maintains its outlook on total Retail comparable bookstore sales to decline in the low-single digits, College comparable store sales to decline in the low-single digits and full fiscal year EBITDA losses in the NOOK segment to decline versus the prior year.