03:33 PM EST, 11/25/2025 (MT Newswires) -- Barnes & Noble Education ( BNED ) shares rose 37% in recent Tuesday trading after the company concluded an internal accounting probe and released preliminary results for the fiscal year ended May 3 and the first six months of fiscal 2026.

"The audit committee has concluded that a former payment processing employee made unsupported manual journal entries that improperly reduced cost of sales" in the fiscal years ended April 27, 2024, and May 3, the company said Tuesday in a statement.

"Unrelated to the investigation, the company is in the process of closing out certain accounting matters with its auditors and is working expeditiously to complete its restatement of prior period financial information," according to the statement.

The fiscal 2025 net loss is expected at $62 million to $68 million, including a $55.2 million non-cash loss on debt extinguishment, the company said. Revenue is expected at $1.6 billion, up 2.6% from a year earlier, with gross comparable store sales projected to increase 7.5%.

Net income in the first six months of fiscal 2026 is expected to range from $3 million to $8 million, compared with the net loss of $59 million to $65 million a year earlier, the company said. Revenue is expected at $933 million, up 7.8% from a year earlier.

Price: 9.16, Change: +2.47, Percent Change: +36.92