BNC First Day Program Revenue Up 29% Year-Over-Year
Gross Comparable Store Sales increased by $54.4M, or 6.0%, year-over-year. Revenues from BNC First Day programs increased by $91.7M, or 29.0%, year-over-year, as First Day Complete continues to see strong growth in institutional adoption. A total of 224 campus stores utilized First Day Complete in the fall 2025 academic term with a total enrollment of approximately 1.1M undergraduate and graduate students, up 22.2% from 0.9M in the prior year. Net income for the first half of fiscal 2026 was $6.7M compared to a net loss of $60.8M in the prior year. Adjusted EBITDA for the first half of fiscal 2026 was $38.3M, an increase of $4.4M, from the $33.9M in the first half of the prior fiscal year. "Building on the accelerating success of our BNC First Day program, we continue to drive improved Adjusted EBITDA and strengthen our balance sheet by reducing our net debt," commented Jonathan Shar, CEO. "With the filing of our first and second quarter 10-Qs, we are now current with our SEC reporting. The continued expansion of the First Day Complete enrollment, combined with solid comparable store sales growth and disciplined expense management, position us for continued success going forward. We are looking forward to hosting an Investor Day in the coming months. We will share more details when we report our fiscal third quarter results."
Trade with 70% Backtested Accuracy
Analyst Views on BNED
About BNED
About the author
Barnes & Noble Plans to Open 60 New Stores in 2026
- Expansion Plan: Barnes & Noble plans to open 60 new stores in 2026, marking a significant turnaround after over a decade of reducing its retail footprint, indicating a renewed confidence in physical retail.
- Sales Growth: By granting greater control to local booksellers, Barnes & Noble has seen stronger sales across existing stores, demonstrating the effectiveness of its new strategy in driving performance recovery.
- Product Diversification: In addition to books, Barnes & Noble has begun selling music, toys, and games, and operates cafés in many locations, further enriching the shopping experience and enhancing its competitive position in the market.
- Leasing Strategy: The company has secured leases in several states, including California, Colorado, and Florida, although specific opening dates and store addresses have not been disclosed; this strategic positioning will aid its market penetration nationwide.
Barnes & Noble Education Faces Investigation Over $23M Revenue Overstatement
- Potential Overstatement: Barnes & Noble Education disclosed that management identified issues with the recording of digital sales costs, potentially leading to an overstatement of up to $23 million in accounts receivable as of May 3, 2025, raising significant investor concerns about financial integrity.
- Stock Price Decline: Following this revelation, on July 21, 2025, Barnes & Noble's shares fell by $2.36, approximately 21%, closing at $8.87 per share, indicating market apprehension regarding the company's financial transparency.
- Legal Investigation: Kirby McInerney LLP is investigating possible violations of federal securities laws by Barnes & Noble Education and its senior management, which could impact the company's reputation and future investor confidence.
- Investor Action: The law firm is urging investors who purchased Barnes & Noble securities to provide information, highlighting that the legal risks faced by the company may lead to shareholder losses, necessitating vigilance among investors regarding future developments.
