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You seem to be assuming they own all of their retail stores. Is this true?
by aspiringsensei 16y ago
You seem to be assuming they own all of their retail stores. Is this true?
- jakarta 16y agoOn their balance sheet, under assets, they record about $812M worth of value for their net property, plant, and equipment. With 720 store locations that comes out to about $1M in value per store. That's probably understated by a lot because of the excess depreciation charge they take.
- aspiringsensei 16y agoI would humbly submit that PP&E likely is dominated by warehousing facilities and books at a place like B&N. It may include some real estate, but I wouldn't bet on it representing the value of 720 store locations, even with aggressive depreciation schedules. I would bet their PP&E likely has a large emphasis on esoteric distribution equipment, as well as some stores. I am just wildly speculating though: the business of selling books is too crappy (low cashflow yeilds) to get me interested enough to crack open a 10-k.
- code_duck 16y agoThere's one at a mall near me... that's definitely leased.
- protomyth 16y agoI'm not assuming that. I assume they lease a lot of their space like everyone else.