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Exhibit 99.1 BNED Barnes & Noble Education Reports First Quarter Fiscal Year 2022 Financial Results Consolidated First Quarter GAAP Sales Increase 18 % to $ 240.8 Million Retail Segment Gross Comparable Store Sales Increase 50 % First Day® Complete Adopted by 65 Campus Stores for the Fall 2021 Term , Representing Undergraduate Student Enrollment of Over 300,000 , up from 43,000 in the Prior Year September 2 , 2021 , Basking Ridge , NJ - Barnes & Noble Education , Inc. ( NYSE : BNED ) , a leading solutions provider for the education industry , today reported sales and earnings for the first quarter of fiscal year 2022 , which ended on July 31 , 2021 . Barnes & Noble Education is a highly seasonal business , and the first quarter is historically a period of low sales activity for the Company . The Company's fiscal 2022 first quarter results benefitted from the reopening of a majority of its campus stores , as compared to the year ago period when a majority of stores were closed in response to the onset of the COVID pandemic . Financial highlights for the first quarter 2022 : • Consolidated first quarter GAAP sales of $ 240.8 million increased 18.0 % , as compared to the prior year period . • • • • Consolidated first quarter GAAP net loss of $ ( 44.3 ) million , compared to a GAAP net loss of $ ( 46.7 ) million in the prior year period . Consolidated first quarter non - GAAP Adjusted Earnings of $ ( 40.0 ) million , compared to non - GAAP Adjusted Earnings of $ ( 41.7 ) million in the prior year period . Consolidated first quarter non - GAAP Adjusted EBITDA of $ ( 24.5 ) million , compared to non - GAAP Adjusted EBITDA of $ ( 38.0 ) million in the prior year period . Retail segment gross comparable store sales increased 49.8 % . For comparable store sales reporting purposes , logo and emblematic general merchandise sales fulfilled by FLC and Fanatics are included on a gross basis . Please see more detailed definition in the First Quarter Results table and Retail segment discussion below . Operational highlights for the first quarter 2022 : • Reached agreements for 65 campus stores to support the BNC First Day® Complete courseware delivery program in Fall Term 2021 , representing over 300,000 in total undergraduate enrollment ; up from 12 campus stores and 43,000 in total undergraduate enrollment in Fall Term 2020 . • BNC First DayⓇ course materials delivery model year - over - year revenue increased 198 % . • • • Grew DSS revenue 41 % to $ 8.3 million representing the highest dollar revenue growth recorded for the DSS segment since its formation . Generated over 66,000 in new Bartleby gross subscribers , representing more than 100 % growth over the same period last year . Entered into a ten - year partnership with the University of Notre Dame under which Barnes & Noble College will manage all course materials , retail , and online operations for the University's campus retail stores beginning next year .