HIGHOutside partySupplier
54%
four largest suppliers
“10-K Item 1A: 'During Fiscal 2025, our four largest suppliers accounted for approximately 54% of our merchandise purchased'”
BNED · Concentration risk · 10-K extracted
Barnes & Noble Education (BNED) concentration risks
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.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Barnes & Noble Education’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
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).
MEDIUMOutside partySupplier
45%
largest supplier
“10-K Item 1A: 'the largest supplier accounting for approximately 45% of our merchandise purchased'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06BNED's merchandise supply chain is narrowly concentrated. The four largest suppliers together account for approximately 54% of merchandise purchased, but nearly all of that exposure sits with a single name: the largest supplier alone represents approximately 45% of merchandise purchased. That means the top supplier alone accounts for the large majority of the four-supplier total — a steep drop-off that concentrates counterparty risk in one vendor rather than spreading it evenly across a handful of names. Both figures are dependency-type exposures rather than structural ones: they describe reliance on specific counterparties, not an inherent feature of the business model. A disruption, contract renegotiation, or pricing change at the top supplier would have an outsized effect on product availability and cost of goods, given how little diversification exists beneath it. Because both the aggregate (54%) and single-supplier (45%) figures are disclosed in the most recent 10-K, the exposure is transparent, but it remains the dominant concentration risk investors should weigh against any thesis on margin stability or supply continuity.
For the engine’s reasoning on BNED’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Specialty Retail
Peer concentration profile
| 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 |
| BBY | Best Buy Co., Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.