Updated
The most significant concentration Barnes & Noble Education discloses is four largest suppliers at 54%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Barnes & Noble Education’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'During Fiscal 2025, our four largest suppliers accounted for approximately 54% of our merchandise purchased, with the largest supplier accounting for approximately 45% of our merchandise purchased.'”
“10-K Item 1A: 'During Fiscal 2025, our four largest suppliers accounted for approximately 54% of our merchandise purchased, with the largest supplier accounting for approximately 45% of our merchandise purchased.'”
Barnes & Noble Education's concentration risk sits squarely on the supply side. During fiscal 2025, the four largest suppliers accounted for approximately 54% of merchandise purchased — a high-share, dependency-type exposure that leaves the company reliant on a small handful of vendors for the majority of what it stocks. Within that group, the single largest supplier alone accounted for approximately 45% of merchandise purchased, a medium-share exposure that is nearly as large as the four-supplier total, underscoring how much of BNED's purchasing runs through one counterparty. Because both figures describe the same supplier relationships from different angles, the practical takeaway is a single, concentrated supply chain: any disruption, pricing change, or relationship deterioration with that top supplier would ripple through more than half of merchandise sourcing. With no customer or geographic concentration disclosed alongside it, supplier dependency is the dominant — and only — concentration factor identifiable in this filing, and it is significant enough to be a swing factor for margin and product-availability risk.
For the engine’s reasoning on BNED’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ARKO | ARKO Corp. | 1 | 2 | 0 | 3 |
| BNED● | Barnes & Noble Education, Inc | 1 | 1 | 0 | 2 |
| BBWI | Bath & Body Works, Inc. | 0 | 3 | 1 | 4 |
| ARHS | Arhaus, Inc. | 0 | 1 | 1 | 2 |
| ASO | Academy Sports and Outdoors, In | 0 | 1 | 0 | 1 |
| BBW | Build-A-Bear Workshop, Inc. | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.