By Mark Maurer Close Mark Maurer Dec. 28, 2020 9:30 am ET Thomas Donohue, the chief financial officer of Barnes & Noble Education Inc., has been slashing costs since the early days of the pandemic. He expects to keep doing so as another semester of remote learning approaches, forcing the campus bookstore chain to keep some of its outlets closed.
Newsletter Sign-up CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. For Mr. Donohue, this means he has to keep reducing expenses until operations on campus normalize, bookstores and cafes reopen and sales recover. Barnes & Noble Education usually generates most revenue during the first month of a new semester, Mr. Donohue said.While he doesn’t expect additional job cuts, Mr. Donohue said he is scrutinizing other costs such as fees the company pays to schools.
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