Barnes & Noble Education Reports Decreased Sales

It’s been nearly a year since the country shut down due to the spread of COVID-19, and all businesses are feeling the effects. Brick and mortar book stores have been hit particularly hard, including Barnes & Noble Education. 

 

 

The education division of Barnes & Noble is dedicated to providing educational resources to students and schools. Many schools have been partially or entirely shut down since March 2020, and the decrease in student activity on campuses has led to reduced sales. According to Publishers Weekly“the company anticipates continued losses throughout the remainder of the 2021 fiscal year, which ends May 1, but anticipates positive EBITDA (earnings before interest, taxes, depreciation, and amortization) in fiscal 2022.”

 

IMAGE VIA B&N EDUCATION

As states begin to open up and the nation slowly achieves mass vaccinations against COVID-19, businesses expect increased profits and hope to bounce back. Although Barnes & Noble’s digital division has seen an increase in activity and sales, they hope to see the same positive sales numbers in their education division as students return to campuses. 

 

FEATURED IMAGE VIA KBIA