BASKING RIDGE, N.J.--(BUSINESS WIRE)--
Barnes & Noble Education, Inc. (NYSE:BNED) today announced
that the Board of Directors has authorized the repurchase of up to $50
million, in the aggregate, of the Company's outstanding common stock.
The stock repurchase program will be carried out at the direction of the
Company (which may or may not include a plan under Rule 10b5-1 of the
Securities Exchange Act of 1934). The stock may be repurchased on an
ongoing basis. The stock repurchase program may be suspended,
terminated, or modified at any time. Any repurchased shares will be held
as treasury stock and will be available for general corporate purposes.
About Barnes & Noble Education, Inc.
Barnes & Noble Education, Inc. (NYSE: BNED) enhances the academic and
social purpose of educational institutions. Through its Barnes & Noble
College subsidiary, Barnes & Noble Education serves more than 5 million
college students and their faculty through its 743 stores on campuses
nationwide, delivering essential educational content and tools within a
dynamic retail environment. The company is at the forefront of digital
education with its digital education platform, Yuzu®, weaving
together digital learning materials to enhance the teaching and learning
experience. Barnes & Noble Education acts as a strategic partner to
drive student success; provide value and support to students and
faculty; and create loyalty and retention, all while supporting the
financial goals of college and university partners.
General information on Barnes & Noble Education, Inc. can be obtained by
visiting the Company's corporate website: www.bned.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 and
information relating to Barnes & Noble Education and its business that
are based on the beliefs of the management of Barnes & Noble Education
as well as assumptions made by and information currently available to
the management of Barnes & Noble Education. 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 Education or the
management of Barnes & Noble Education, identify forward-looking
statements. Moreover, Barnes & Noble Education operates in a very
competitive and rapidly changing environment. New risks emerge from time
to time. It is not possible for the management of Barnes & Noble
Education to predict all risks, nor can Barnes & Noble Education assess
the impact of all factors on its business or the extent to which any
factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements Barnes
& Noble Education may make. In light of these risks, uncertainties and
assumptions, the future events and trends discussed in this press
release may not occur and actual results could differ materially and
adversely from those anticipated or implied in the forward-looking
statements.
Such statements reflect the current views of Barnes & Noble Education
with respect to future events, the outcome of which is subject to
certain risks, including, among others: challenges to running Barnes &
Noble Education independently from Barnes & Noble, Inc. ("Barnes &
Noble") now that the complete legal and structural separation of Barnes
& Noble Education from Barnes & Noble (the "Spin-Off") has been
completed; general competitive conditions, including actions Barnes &
Noble Education's competitors may take to grow their businesses; trends
and challenges to Barnes & Noble Education's business and in the
locations in which it has stores; decisions by colleges and universities
to outsource their bookstore operations or change the operation of their
bookstores; non-renewal of contracts; the general economic environment
and consumer spending patterns, a decline in college enrollment or
decreased funding available for students; decreased consumer demand for
Barnes & Noble Education's products, low growth or declining sales;
disruptions to Barnes & Noble Education's computer systems, data lines,
telephone systems or supply chain, including the loss of suppliers;
changes to payment terms, return policies, the discount or margin on
products or other terms with Barnes & Noble Education's suppliers; risks
associated with data privacy, information security and intellectual
property; work stoppages or increases in labor costs; Barnes & Noble
Education's ability to attract and retain employees; possible increases
in shipping rates or interruptions in shipping service, effects of
competition; obsolete or excessive inventory; product shortages; Barnes
& Noble Education's ability to successfully implement its strategic
initiatives; the performance of Barnes & Noble Education's online,
digital and other initiatives, including possible delays in the
deployment of, and further enhancements to, Yuzu® and any future higher
education digital products; technological changes; risk that digital
sales growth is less than expectations and the risk that it does not
exceed the rate of investment spend; higher-than-anticipated store
closings; changes in law or regulation; the amount of Barnes & Noble
Education's indebtedness and ability to comply with covenants applicable
to any future debt financing; Barnes & Noble Education's ability to
satisfy future capital and liquidity requirements; Barnes & Noble
Education's ability to access the credit and capital markets at the
times and in the amounts needed and on acceptable terms; adverse results
from litigation, governmental investigations or tax-related proceedings
or audits; changes in accounting standards; the potential adverse impact
on Barnes & Noble Education's business resulting from the Spin-Off; and
the other risks and uncertainties detailed in the section titled "Risk
Factors" in Barnes & Noble Education's Prospectus filed with the
Securities and Exchange Commission ("SEC") on July 15, 2015 and in
Barnes & Noble Education's 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
Education or persons acting on its behalf are expressly qualified in
their entirety by the cautionary statements in this paragraph. Barnes &
Noble Education 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 press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151214005381/en/
Media:
Barnes & Noble
Education, Inc.
Carolyn J. Brown, (908) 991-2967
Vice President
Corporate
Communications
cbrown@bned.com
or
Investor:
Barnes
& Noble Education, Inc.
Thomas Donohue, (908) 991-2966
Vice
President
Treasurer and Investor Relations
tdonohue@bned.com
Source: Barnes & Noble Education, Inc.
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