Barnes & Noble Declares Quarterly Dividend

Business Wire 14-Mar-2018 4:15 PM

Issues Fiscal 2019 Outlook

NEW YORK--(BUSINESS WIRE)-- Barnes & Noble, Inc. (NYSE:BKS) today announced that its Board of Directors declared a quarterly cash dividend of $0.15 per share, payable on April 27, 2018 to stockholders of record at the close of business on April 6, 2018.

In addition to the fiscal 2018 outlook provided on March 1, 2018, the Board of Directors today approved the Companys fiscal 2019 budget and expects fiscal 2019 consolidated EBITDA to be in a range of $175 million to $200 million. The Company expects fiscal 2019 EBITDA to grow through improved sales trends and expense reductions. The Company will provide further details when it reports fiscal 2018 year end results on or about June 21, 2018.

About Barnes & Noble, Inc.

Barnes & Noble, Inc. (NYSE: BKS) is the nations largest retail bookseller, and a leading retailer of content, digital media and educational products. The Company operates 630 Barnes & Noble bookstores in 50 states, and one of the Webs premier e-commerce sites, ( The Nook Digital business offers a lineup of popular NOOK tablets and eReaders and an expansive collection of digital reading and entertainment content through the NOOK Store. The NOOK Store ( features digital books, periodicals and comics, and offers the ability to enjoy content across a wide array of popular devices through Free NOOK Reading Apps available for Android, iOS and Windows.

General information on Barnes & Noble, Inc. can be obtained by visiting the Company's corporate website at

BKS Financial

Forward-Looking Statements

This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and information relating to Barnes & Noble that are based on the beliefs of the management of Barnes & Noble as well as assumptions made by and information currently available to the management of Barnes & Noble. When used in this communication, the words anticipate, believe, estimate, expect, intend, plan, will, forecasts, projections, and similar expressions, as they relate to Barnes & Noble or the management of Barnes & Noble, identify forward-looking statements.

Such statements reflect the current views of Barnes & Noble with respect to future events, the outcome of which is subject to certain risks, including, among others, the general economic environment and consumer spending patterns, decreased consumer demand for Barnes & Nobles products, low growth or declining sales and net income due to various factors, including store closings, higher-than-anticipated or increasing costs, including with respect to store closings, relocation, occupancy (including in connection with lease renewals) and labor costs, the effects of competition, the risk of insufficient access to financing to implement future business initiatives, risks associated with data privacy and information security, risks associated with Barnes & Nobles supply chain, including possible delays and disruptions and increases in shipping rates, various risks associated with the digital business, including the possible loss of customers, declines in digital content sales, risks and costs associated with ongoing efforts to rationalize the digital business, risks associated with the eCommerce business, including the possible loss of eCommerce customers and declines in eCommerce sales, the risk that financial and operational forecasts and projections are not achieved, the performance of Barnes & Nobles initiatives including but not limited to new store concepts and eCommerce initiatives, unanticipated adverse litigation results or effects, potential infringement of Barnes & Nobles intellectual property by third parties or by Barnes & Noble of the intellectual property of third parties, and other factors, including those factors discussed in detail in Item 1A, Risk Factors, in Barnes & Nobles Annual Report on Form 10-K for the fiscal year ended April 29, 2017, and in Barnes & Nobles other filings made hereafter from time to time with the SEC.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to Barnes & Noble or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. Barnes & Noble undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this communication.

Non-GAAP Reconciliation & Forward-Looking Statement
(In millions)
Forward-Looking Fiscal 2019

Operating income

EBITDA (a) $ 175 $ 200
Depreciation and amortization (108 ) (108 )
Operating income $ 67 $ 92
(a) Earnings before Interest, Tax, Depreciation and Amortization.

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Media: Barnes & Noble, Inc. Mary Ellen Keating, 212-633-3323Senior Vice PresidentCorporate Communicationsmkeating@bn.comorInvestors:Barnes & Noble, Inc.Andy Milevoj, 212-633-3489Vice PresidentCorporate Finance and Investor

Source: Barnes & Noble, Inc.

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