Barnes & Noble Inc., the struggling bookseller, reported "material weakness" in its accounting and restated three years of financial results. Investors seemed alarmed by more bad news from the unprofitable retailer whose chief executive stepped aside earlier this month and they bid down its stock by 4%.Barnes & Noble said Monday that errors in reporting sales and occupancy costs, plus an inaccurate tally of income-tax refunds received when it was unprofitable in 2011 and 2012, caused the company to over-report losses over those two years by $9 million. Actual losses over those two years were $134 million, not the $143 million, the company.In 2010, the company's last profitable year, Barnes & Noble said it really earned $43 million instead of the $37 million initially reported. The company said it previously had overstated sales and occupancy costs and understated the amount it owed in taxes. It in fact paid $12 million in income taxes that year, 50% more than the previously reported amount.The bookseller said the errors resulted from "inadequate controls over the accrual reconciliation process at its distribution centers" and it is working to fix the problem.A spokeswoman for the bookseller didn't immediately return a call seeking comment.The accounting problems seem to stem from the company's decision to buy more books directly from publishers instead of wholesalers. In its annual report, Barnes & Noble said it has invested significantly in new warehouses... Continue reading at 'Crains New York'
[ Crains New York | 2013-07-30 00:00:00 UTC ]
News tagged with:
#puts pressure
#ernst young
#leonard riggio
Barnes & Noble Inc., the struggling bookseller, reported "material weakness" in its accounting and restated three years of financial results. Investors seemed alarmed by more bad news from the unprofitable retailer whose chief executive stepped aside earlier this month and they bid down its... Continue reading at Crains New York
[ Crains New York | 2013-07-30 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#leonard riggio
#ernst young
#puts pressure
In a shift, American readers have become more interested in books about mental health than about diet and exercise, according to data released by bookstore chain Barnes & Noble. The data, collected around the New Year's season, seems to indicate that readers' annual resolutions are focusing... Continue reading at Los Angeles Times
[ Los Angeles Times | 2019-01-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#mental health
#barnes noble
#data released
#american readers
B&N's book the year, Reading Rainbow gets a Prime spot, and more in today's book news. Continue reading at Book Riot
[ Book Riot | 2024-11-15 20:04:44 UTC ]
More news stories like this | News stories tagged with:
#book of the year
#reading rainbow
#barnes noble
#book news
Barnes & Noble has announced their best books of the year (so far). Grab your TBR and dive into these books spread across 13 unique categories. Continue reading at Book Riot
[ Book Riot | 2024-06-05 13:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes
#barnes noble
Check out this year's winners of the Barnes & Noble Children's & Young Adult Book Awards (plus, learn about this summer's reading program for kids!) Continue reading at Book Riot
[ Book Riot | 2024-05-14 12:45:00 UTC ]
More news stories like this | News stories tagged with:
#barnes
#adult book
These 24 picture book, young reader, and young adult books are the finalists for this year's Barnes & Noble Children's and Young Adult Book Awards. Continue reading at Book Riot
[ Book Riot | 2024-03-27 13:10:40 UTC ]
More news stories like this | News stories tagged with:
#barnes
#adult book
#young reader
#barnes noble
Barnes and Noble has announced their Book of the Year for 2023 — plus the inaugural winner of their Author of the Year award. Continue reading at Book Riot
[ Book Riot | 2023-11-13 15:03:30 UTC ]
More news stories like this | News stories tagged with:
#book of the year
#inaugural winner
#barnes noble
Barnes & Noble has released the finalists for their Best Books of the Year. The 12 books include a mix of genres and age categories. Continue reading at Book Riot
[ Book Riot | 2023-11-10 20:12:21 UTC ]
More news stories like this | News stories tagged with:
#books include
#barnes noble
Barnes & Noble just released their "Best Books of the Year (So Far)", and the list is full of surprises. Continue reading at Book Riot
[ Book Riot | 2023-06-05 11:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
Barnes & Noble was on the verge of disappearing, like Border's and Waldenbooks. Under new management it's turning around, and that's good news for readers. Continue reading at Los Angeles Times
[ Los Angeles Times | 2023-02-01 13:00:52 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#putting books
In addition to their top book of the year, Barnes and Noble booksellers also selected a winner for a new award for speculative fiction. Continue reading at Book Riot
[ Book Riot | 2022-11-11 15:00:02 UTC ]
More news stories like this | News stories tagged with:
#speculative fiction
#top book
Barnes & Noble is currently holding a huge Buy One, Get One 50% Off sale applied to hundreds of titles, both in store and online. Continue reading at Book Riot
[ Book Riot | 2022-10-13 17:01:37 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
Barnes & Noble has released their list of the best books of 2022. The list includes everything from memoirs to dystopian novels. Continue reading at Book Riot
[ Book Riot | 2022-10-10 14:26:02 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#list includes
Ranging from middle grade fantasy to adult literary fiction and romance, here are Barnes & Noble's top 10 books of 2022 so far. Continue reading at Book Riot
[ Book Riot | 2022-06-07 13:23:38 UTC ]
More news stories like this | News stories tagged with:
#literary fiction
#barnes noble
Barnes & Noble names their Book of the Year and a Speculative Book of the Year. Continue reading at Book Riot
[ Book Riot | 2021-11-18 14:57:13 UTC ]
More news stories like this | News stories tagged with:
#book of the year
8 books, ranging from memoir to pizza czar, history for young readers and lyrics by legends, are the finalists for B&N's Book of the Year. Continue reading at Book Riot
[ Book Riot | 2021-10-28 12:00:00 UTC ]
More news stories like this | News stories tagged with:
#memoir
#young readers
#barnes noble
Here are Barnes & Nobel's Top Books of 2021. Their top 10 is really a top 11 and we can't blame them. Continue reading at Book Riot
[ Book Riot | 2021-10-14 13:56:34 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#top books
The bookseller has hired Emily Meehan as publisher and chief creative officer of Sterling Publishing in what it called part of a relaunch of its publishing division. Continue reading at Publishers Weekly
[ Publishers Weekly | 2021-01-15 05:00:00 UTC ]
More news stories like this | News stories tagged with:
#book publishing
#bookseller
#publishing division
#sterling publishing
#barnes noble
Get to know about WORLD OF WONDERS, the 2020 Barnes & Noble Book of the Year. Continue reading at Book Riot
[ Book Riot | 2020-12-04 13:00:00 UTC ]
More news stories like this | News stories tagged with:
#book of the year
#barnes noble
The bookseller planned to promote classic novels with covers featuring people of color for Black History Month. Critics accused it of “literary blackface.” Continue reading at The New York Times
[ The New York Times | 2020-02-05 23:31:49 UTC ]
More news stories like this | News stories tagged with:
#bookseller