Barnes & Noble Education, Inc.BNED

Barnes & Noble Education, Inc. Segments Disclosure

10-KFiled Dec 23, 20252 min read
Segment Reporting
We identify our segments in accordance with the way our business is managed. During the 26 weeks ended October 26, 2024, management determined that a realignment of the Company's operating and reporting segments was necessary to better reflect the operations of the organization. With the recent change in Chief Executive Officer and June milestone financing transactions, we have streamlined operations to focus on a centralized management structure to support company-wide procurement, marketing and selling, delivery and customer service. Given the change in how the overall business is managed and how the current Chief Executive Officer (the current Chief Operating Decision Maker ("CODM")) assesses performance and allocates resources, we combined the operating results of the prior two segments, Retail and Wholesale, into one operating and reporting segment. Prior period disclosures have been restated to reflect the change to one segment.
The CODM reviews financial information on a consolidated basis to evaluate operational performance, allocate resources, and assess trends over time. The CODM uses Net income (loss) as the primary measure of segment profit or loss. In evaluating performance, the CODM also reviews significant expense categories, including adjusted cost of sales, payroll expense, contract payments, direct expenses, and indirect expenses, which are considered material to understanding the segment’s financial results.
This measure provides a consistent basis for strategic decision-making, budgeting, and performance evaluation, reflecting the segment’s contribution to the Company’s overall financial results. Segment assets are not used by the CODM for evaluating performance as presented on our Consolidated Balance Sheet.
The following table presents sales, profitability, and significant expense information about our segment. As detailed in Note 2. Summary of Significant Accounting Policies, and Note 3. Restatement of Previously Issued Audited Consolidated Financial Statements, the presentation of certain amounts in Fiscal Year 2024 below has been restated.


53 weeks ended
May 3, 2025
52 weeks ended April 27, 2024 (a)
 Sales
$1,610,170 $1,567,135 
Adjusted Cost of sales
1,046,615 
(b)
993,349 
 Payroll expense 206,362 225,646 
 Contract payments
200,545 201,781 
 Direct expenses 96,599 108,663 
 Indirect expenses 659 977 
Other segment expenses, net
125,215 
(c)
112,468 
 Net loss $(65,825)$(75,749)
(a) Reflects the impact of restatements as noted in Note 3. Restatement of Previously Issued Audited Consolidated Financial Statements.
(b) Adjusted Cost of sales includes all cost of sales presented in the Statement of Operations, adjusted for contract payments and other various expenses.
(c) Other segment expenses, net, represents GAAP income statement line items that are not considered to be significant segment expenses. These items primarily include stock-based compensation, depreciation and amortization, impairment, restructuring and other charges, loss on extinguishment of debt, interest income and expense, discontinued operations and income tax expense (benefit).

Historical Timeline

Fiscal YearFiled
2025Dec 23, 2025Showing above
2024Jul 1, 2024
2023Jul 31, 2023
2022Jun 29, 2022
2021Jun 30, 2021
2020Jul 14, 2020
2019Jun 25, 2019
2018Jun 20, 2018
2017Jul 12, 2017
2016Jun 29, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&ELeasesDebtCommitmentsStock CompensationNew Standards