<SEC-DOCUMENT>0001193125-25-161242.txt : 20250718
<SEC-HEADER>0001193125-25-161242.hdr.sgml : 20250718
<ACCEPTANCE-DATETIME>20250718163108
ACCESSION NUMBER:		0001193125-25-161242
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250503
FILED AS OF DATE:		20250718
DATE AS OF CHANGE:		20250718
EFFECTIVENESS DATE:		20250718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Barnes & Noble Education, Inc.
		CENTRAL INDEX KEY:			0001634117
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				460599018
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0503

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37499
		FILM NUMBER:		251134860

	BUSINESS ADDRESS:	
		STREET 1:		120 MOUNTAIN VIEW BOULEVARD
		CITY:			BASKING RIDGE
		STATE:			NJ
		ZIP:			07920
		BUSINESS PHONE:		908-991-2665

	MAIL ADDRESS:	
		STREET 1:		120 MOUNTAIN VIEW BOULEVARD
		CITY:			BASKING RIDGE
		STATE:			NJ
		ZIP:			07920
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
<SEQUENCE>1
<FILENAME>d46777dnt10k.htm
<DESCRIPTION>NT 10-K
<TEXT>
<HTML><HEAD>
<TITLE>NT 10-K</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
<DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:16pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">12b-25</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>NOTIFICATION OF LATE FILING </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="right"><I>(Check one):&#8195;</I></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9746;&#8194;Form&nbsp;10-K&#8195; <FONT STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;20-F&#8195;</FONT> <FONT
STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;11-K&#8195;</FONT> <FONT STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;10-Q</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&#9744;&#8194;Form&nbsp;10-D&#8195; <FONT STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;N-CEN&#8195;</FONT>
<FONT STYLE="white-space:nowrap">&#9744;&#8194;Form&nbsp;N-CSR</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">For Period Ended: May 3, 2025</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;10-K</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;20-F</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;11-K</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&#8194;Transition Report on Form&nbsp;10-Q</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">For&nbsp;the&nbsp;Transition&nbsp;Period&nbsp;Ended: &#8195;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="font-size:1pt">
<TD HEIGHT="4" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-left:8pt">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt; padding-right:2pt">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.</B></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&#8195;&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART I &#151; REGISTRANT INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>BARNES&nbsp;&amp; NOBLE EDUCATION, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Full Name of Registrant) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Former Name if Applicable) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>120 Mountain View Blvd. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Address of Principal Executive Office (<I>Street and Number</I>)) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Basking Ridge, NJ 07920 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(City, State and Zip Code) </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART
II &#151; RULES <FONT STYLE="white-space:nowrap">12b-25(b)</FONT> AND (c) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule <FONT STYLE="white-space:nowrap">12b-25(b),</FONT> the following should be completed. (Check box if appropriate) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="middle" ROWSPAN="3" STYLE="BORDER-RIGHT:1px solid #000000; padding-left:8pt">&#9746;&#8194;&#8201;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(a)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(b)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">The subject annual report, semi-annual report, transition report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> Form <FONT STYLE="white-space:nowrap">20-F,</FONT> Form <FONT STYLE="white-space:nowrap">11-K,</FONT> Form <FONT
STYLE="white-space:nowrap">N-CEN</FONT> or Form <FONT STYLE="white-space:nowrap">N-CSR,</FONT> or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition
report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or subject distribution report on Form <FONT STYLE="white-space:nowrap">10-D,</FONT> or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date;
and</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">(c)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">The accountant&#146;s statement or other exhibit required by Rule <FONT STYLE="white-space:nowrap">12b-25(c)</FONT> has been attached if applicable.</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART III &#151; NARRATIVE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">State below in reasonable detail why Forms <FONT STYLE="white-space:nowrap">10-K,</FONT> <FONT STYLE="white-space:nowrap">20-F,</FONT> <FONT
STYLE="white-space:nowrap">11-K,</FONT> <FONT STYLE="white-space:nowrap">10-Q,</FONT> <FONT STYLE="white-space:nowrap">10-D,</FONT> <FONT STYLE="white-space:nowrap">N-CEN,</FONT> <FONT STYLE="white-space:nowrap">N-CSR,</FONT> or the transition
report or portion thereof, could not be filed within the prescribed time period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barnes&nbsp;&amp; Noble Education, Inc. (the &#147;Company&#148;) is
unable to file its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended May&nbsp;3, 2025 (the &#147;Form <FONT STYLE="white-space:nowrap">10-K&#148;)</FONT> within the prescribed time period, without unreasonable
effort or expense. Certain information regarding the recording of cost of digital sales was brought to the attention of management in July 2025, which promptly informed the Audit Committee (the &#147;Committee&#148;) of the Board of Directors of the
Company, that caused the Committee to commence an internal investigation with the assistance of outside counsel and advisors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The investigation is
ongoing and all parties are working diligently to complete the investigation. However, based on initial findings, which could change as the investigation is in its early stages, management believes that the Company may have a potential overstatement
of up to $23.0&nbsp;million in the aggregate to its accounts receivable balance as of its May&nbsp;3, 2025 fiscal <FONT STYLE="white-space:nowrap">year-end,</FONT> which the Company believes is the cumulative net impact of overstatements and
understatements to its cost of sales during the fiscal years 2024 and 2025, impacting results of operations in those periods. Based on the Committee&#146;s investigation to date, the Company believes that these potential impacts may have resulted
from the actions of a payment processing employee, who has been suspended pending the results of the Committee&#146;s investigation. The Company has not reached a conclusion whether any restatement of previously issued financial statements will be
required as a result of the investigation. In addition, certain other financial reporting process matters require resolution in addition to any impact from the conclusion of the ongoing investigation, as such, management is unable to complete the
Company&#146;s financial reporting process and preparation of its financial statements for the fiscal year ended May&nbsp;3, 2025. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Management is also
assessing the effect of this matter on the Company&#146;s internal control over financial reporting and its disclosure controls and procedures. The Company expects to report at least one material weakness related to the appropriate review and
approval of manual journal entries following the completion of the ongoing investigation. As a result of the expected material weakness(es), the Company believes that its internal control over financial reporting was not effective, and its
disclosure controls and procedures were not effective, as of May&nbsp;3, 2025 and as of April 27, 2024, the respective end dates of each of its fiscal years 2024 and 2025. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company does not expect the investigation to impact total sales, which increased by $40.5&nbsp;million in fiscal year 2025 to $1.61&nbsp;billion
(unaudited), nor BNC First Day total revenue, which increased by $119.9&nbsp;million in fiscal year 2025, or 25.3%, to $593.8&nbsp;million (unaudited) compared to $473.9&nbsp;million during the prior year period. The investigation will not impact
the Company&#146;s fiscal 2025 <FONT STYLE="white-space:nowrap">year-end</FONT> cash and cash equivalents and total debt. As a result, the Company expects to report total net debt (defined as total debt, less cash and cash equivalents) of
$94.0&nbsp;million (unaudited) as of the end of fiscal year 2025, which was a decrease of $91.8&nbsp;million from the Company&#146;s total net debt of $185.8&nbsp;million as of the end of fiscal year 2024. In addition, the Company expects to be in
compliance with its financial covenants under its credit agreement as of fiscal 2025 <FONT STYLE="white-space:nowrap">year-end.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company
currently expects to file the Form <FONT STYLE="white-space:nowrap">10-K</FONT> within the <FONT STYLE="white-space:nowrap">15-day</FONT> extension period prescribed by&nbsp;Rule <FONT STYLE="white-space:nowrap">12b-25&nbsp;under</FONT>
the&nbsp;Securities Exchange Act of 1934, as amended, however the ability to file within the extension period will depend on the progress of and ultimate conclusion of the investigation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART IV &#151; OTHER INFORMATION </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#8195;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9">Name and telephone number of person to contact in regard to this notification</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">Jason Snagusky</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">&#8195;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000">(908)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">&#8195;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">991-2665</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">(Name)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">(Area&nbsp;Code)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">(Telephone&nbsp;Number)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="10"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9">Have all other periodic reports required under Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 or Section&nbsp;30 of the Investment Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).&#8195;Yes&#8194;<B></B>&#9746;<B></B><B></B>&#8195;No&#8194;&#9744;<B> </B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="10"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9">Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or
portion thereof?&#8195;Yes&#8194;&#9744;&#8195;No&#8194;<B></B>&#9746;<B></B><B></B></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="10"></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="9">If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Note Regarding Forward-Looking Statements</B>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Forward-Looking Statements</I>: This Form <FONT STYLE="white-space:nowrap">12b-25</FONT> contains &#147;forward-looking&#148; statements within the meaning
of federal securities laws. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company advises caution in reliance on forward-looking statements. Forward-looking statements
include, without limitation: statements related to the ongoing internal investigation, including timing, amounts and expected outcome; expected financial results for fiscal 2025; and the Company&#146;s plans, objectives and intentions. These
statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking statement, including without limitation: the discovery of additional information
relevant to the internal investigation; the conclusions of the Committee (and the timing of the conclusions) concerning matters relating to the investigation; the timing of the review by, and the conclusions of, the Company&#146;s independent
registered public accounting firm regarding the investigation and the Company&#146;s financial statements; the risk that the completion and filing of the Form <FONT STYLE="white-space:nowrap">10-K</FONT> will take longer than expected; and the risk
that the Company will be unable to file the Form <FONT STYLE="white-space:nowrap">10-K</FONT> within the extension period of 15 calendar days provided under&nbsp;Rule <FONT STYLE="white-space:nowrap">12b-25.</FONT> See also other risks that are
described in &#147;Risk Factors&#148; in the Company&#146;s filings with the Securities and Exchange Commission (the &#147;SEC&#148;), including its Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> filed with the SEC for the fiscal
year ended April&nbsp;27, 2024, and any subsequent reports filed with the SEC. All forward-looking statements in this Form <FONT STYLE="white-space:nowrap">12b-25</FONT> are based on information available to the Company as of the date of this
filing.&nbsp;The Company expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. </P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BARNES&nbsp;&amp; NOBLE EDUCATION, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">(Name of Registrant as Specified in Charter) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">has
caused this notification to be signed on its behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Dated:&nbsp;July&nbsp;18, 2025</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jason Snagusky</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top"></TD>
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<TD VALIGN="top">Jason Snagusky</TD></TR>
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<TD VALIGN="top">Chief Financial Officer</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative.
The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the
representative&#146;s authority to sign on behalf of the registrant shall be filed with the form. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ATTENTION</B></P> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See&nbsp;18&nbsp;U.S.C.&nbsp;1001).</B></P>
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