higher education – End Grade Inflation http://endgradeinflation.org/ Sun, 17 Apr 2022 02:07:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://endgradeinflation.org/wp-content/uploads/2021/06/icon.png higher education – End Grade Inflation http://endgradeinflation.org/ 32 32 Best Art and Design Schools in Brazil https://endgradeinflation.org/best-art-and-design-schools-in-brazil/ Sat, 19 Mar 2022 12:11:34 +0000 https://endgradeinflation.org/best-art-and-design-schools-in-brazil/ Design has become a very popular career choice among young people. There are many colleges that offer art and design courses, but there are a few that offer the best to their students. Here is a list of some of the best art and design schools in Brazil that you can join and start your […]]]>

Design has become a very popular career choice among young people. There are many colleges that offer art and design courses, but there are a few that offer the best to their students.

Here is a list of some of the best art and design schools in Brazil that you can join and start your course:

  1. Jhe Arts Iinstitute of Ffederal youUniversity of Rio Grande do Sul
    Jhe Arts Iinstitute of Ffederal youThe University of Rio Grande do Sul is one of the most prestigious and traditional art schools in Brazil. The main objective of the university is to well organize and promote knowledge of the arts and other teachings, as well as access to cultural popularization activities. All cultural activities that include free admission mainly take place within the institute itself. The college believes in only offering the best to students by staff who have years of experience in the field.
  2. The University of Sao Paulo
    The School of Communications and Arts at the University of Sao Paulo is not only a higher education but a research institute also located in Sao Paulo, Brazil. The undergraduate courses here spread across more than 36 schools where each school has its department. The school offers 22 undergraduate arts and communication programs, 15 of which are dedicated to arts, sculpture, painting, stage design, and similar fields. The school ranks in the top 50 best schools for communication and art according to QS university rankings.
  3. The University of Campinas
    At the University of Campinas, the Graduate Program in Visual Arts generates studies in the field of art that aim to coordinate and foster critical and theoretical reflection in research and practice. At the university, the program emphasizes the fundamental need for imbalance between the two practices and the theory also keeping in mind the process of materialization of the different contemporary artistic images which is imbued in the conceptual relations.
  4. Federal University of Rio de Janeiro
    The Federal University of Rio de Janeiro or also known as the University of Brazil is one of the largest federal universities in the country and also the main center excellence in teaching and research criteria. The Department of Education recognized the performing arts course in 2979 and has been training students ever since. The imperial academy of fine arts set up the sculpture course and also adapted the basic requirement of the professional market. after a reform in 2011, it was renamed Visual arts-sculpture.
  5. the Ffederal youUniversity of MInas Gerais
    At Ffederal youUniversity of Minas Gerais, the post-Baccalaureate in Arts program is one of the oldest and also the most consolidated fields in the country. The program has one main area of ​​concentration and it is the arts which is anchored by approximately six layers of research. The academic and diversity here is also very relevant, especially when it comes to the majority of professors and teachers with PhDs. frontline universities not only in Brazil but also abroad. The main idea of ​​the university is to provide knowledge for students and train them to excel in the field.

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Uniform can’t be more important than education https://endgradeinflation.org/uniform-cant-be-more-important-than-education/ Fri, 18 Mar 2022 09:40:20 +0000 https://endgradeinflation.org/uniform-cant-be-more-important-than-education/ The Karnataka High Court’s verdict on schoolgirls wearing the hijab has barely settled the controversy that appears to have become the latest flashpoint in our religiously polarized nation. Girls in hijabs were refused entry to classrooms on the grounds that by wearing the head covering they had violated the uniform prescribed by their institution. The […]]]>

The Karnataka High Court’s verdict on schoolgirls wearing the hijab has barely settled the controversy that appears to have become the latest flashpoint in our religiously polarized nation. Girls in hijabs were refused entry to classrooms on the grounds that by wearing the head covering they had violated the uniform prescribed by their institution. The issue could have been easily resolved through a dialogue between the college authorities and the parents. Instead, it has become politicized with different religious and political outfits jumping into the fray with their radical and antagonistic stances. It was as if the right to education and the right to religious freedom were at loggerheads. Unfortunately, the HC did not correct this misplaced notion. Nor did he address the stale atmosphere in some of the state’s educational institutions, as highlighted by shocking videos of boys wearing saffron headscarves heckling a girl in a hijab.

Educational institutions have the right to establish their own rules, but these cannot violate the fundamental rights granted by the Constitution. Also, uniforms cannot be more important than education itself. Courts can do little to help when citizens fail to mutually resolve social problems in the face of institutional rigidity. When justice dies in hearts, courts and verdicts become meaningless.

Girls in hijab advocated for the protection of their rights to religious freedom, education and freedom of choice. The Karnataka government has argued that reasonable restrictions, in an effort to maintain a secular outlook, are enforceable under what it called the doctrine of institutional discipline.

A BJP government that argues for maintaining secularism is pretty wealthy. India is not France where secularism is an avowed ideal translated into practice. Hindutva leaders publicly denounce secularism as a Western notion and openly embrace religiosity in public life. We live in an age of MPs and ministers dressed in saffron. Parliament is certainly as much a public space as a classroom. And, a chief ministerial office demands as much adherence to a secular dress code as a classroom. Singling out girls wearing the hijab is downright discriminatory and a double standard.

It is now well known that the hijab is not one of the essential practices of Islam. Nor is it one of its five pillars. Several Islamic scholars, including Fatema Mernissi, have researched the origins of the veil in Islam to conclude that not only is it not compulsory but has nothing to do with women. A harmless Arabic word used in religious text to describe a wall, barrier, obstacle, partition has been twisted to impose the veil on Muslim women in male-dominated societies over the centuries.

The hijab only recently arrived in the Indian subcontinent. Our grandmothers and our mothers did not wear the veil. My grandmother, a headmistress, wore the Gujarati saree to school. My mother’s generation adopted the more fashionable Bengali saree and salwar-kurta. Growing up, we always saw women in our mohallas modestly dressed in sarees or salwar-kurtas. There was an occasional family or two in the mohalla whose wives observed strict purdah. The entire mohalla respected their preference and made adjustments to spare them any unforeseen embarrassment. All women covered their heads whenever an occasion called for it, such as during a religious ritual or when someone died. Many older women regularly covered their heads with dupattas or sari pallus. They didn’t suffer from hassles like making sure no strands of their hair were showing.

The argument that the hijab is a woman’s choice could lead to a slippery slope. Nevertheless, I believe that his choice must be respected. The lack of social reform in Muslim societies in South Asia has caused patriarchy to masquerade as a religion. Especially when religion is turned into a kind of sorcerer where only holy men have authority. In the Orthodox worldview, the burden of so-called Islamic identity must be borne by women. The core Quranic values ​​of justice, kindness, compassion and wisdom are forgotten and the focus is on outward appearance. A pious woman must be in hijab.

A woman wearing the hijab has as many choices as a woman wearing the sindoor – standards of behavior are predefined for both. The power of religion in our society is such that there are predefined ideals of a good woman and how she should look and behave. Religion can be an easy ride for misogyny and bigotry. The little girls who go to KG classes in a burqa from head to toe is a spectacle that arouses many emotions in me and surely many others. I am regularly asked: But why aren’t you in Islamic dress?

Progressive Muslims in North Africa, the Far East and other parts of the world have to face a political Islam of which the veiled woman is the mascot. The veil, imported from Arabia, is essential in Muslim societies all over the world whereas it is foreign to most of these societies. This may be due to several reasons, including the reaction of different communities to Islamophobia. But we must not forget that the veil is above all a patriarchal construction, and not intrinsic to Islam.

We are a multi-faith democracy with a Constitution rooted in the values ​​of justice, equality and pluralism. The practice of secularism has undoubtedly been deeply flawed in our politics and religious fissures have always existed. But despite communitarianism and communal riots, we have remained a plural and peaceful society. Hate speech and open calls for the genocide of Muslims, as witnessed recently by Haridwar, mean a new low for our politics. It is important that ordinary Indians – Hindus, Muslims, Sikhs, Christians – reject the divisive politics of hate. Peaceful coexistence, tolerance and mutual respect can overcome the politics of divide and conquer. Religiosity must be confined to the private domain. Overt display and competing religiosities can only harm us all. Political religion in our neighborhood, in Afghanistan and Pakistan, has wreaked havoc on the lives of ordinary people.

All girls must attend school, with or without a hijab. The nation will progress when girls are educated and empowered. Governments must focus on improving girls’ access to education, including higher education. They must not waste public resources and precious court hours fighting court cases to deny students choice of dress in the name of uniform.

This column first appeared in the March 18, 2022 print edition under the headline “Much Ado About Dress.” The writer is a women’s rights activist and one of the founding members of Bharatiya Muslim Mahila Andolan

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US budget sends $3 billion to higher education https://endgradeinflation.org/us-budget-sends-3-billion-to-higher-education/ Tue, 15 Mar 2022 07:49:45 +0000 https://endgradeinflation.org/us-budget-sends-3-billion-to-higher-education/ US President Joe Biden has signed into law a federal budget for fiscal year 2022 that boosts a range of aid programs for low-income students while modestly increasing research spending. The long-delayed $1.5trillion (£1.1trillion) spending bill, for the financial year which started last October, includes a total of $3bn for higher education . It provides […]]]>

US President Joe Biden has signed into law a federal budget for fiscal year 2022 that boosts a range of aid programs for low-income students while modestly increasing research spending.

The long-delayed $1.5trillion (£1.1trillion) spending bill, for the financial year which started last October, includes a total of $3bn for higher education .

It provides for an increase of $400 – just over 6% – to $6,895, in the maximum value of the Pell Grant, the main federal grant for low-income students.

It is the biggest increase in several years, although below the doubling pledged by Mr Biden during the 2020 presidential campaign.

The bill also increases aid for minority-serving colleges and universities, by 12%, to $885 million.

The new federal budget, negotiated in Congress controlled by the Democrats, also provides an overall increase of about 5% for the various government research funding agencies.

These amounts include gains of 5% to $45 billion for the National Institutes of Health, 4% to nearly $9 billion for the National Science Foundation, and 6% to $7.5 billion for the Department of Energy’s Office of Science.

The bill brought to the NSF its controversial new division focused on finding commercial applications of research findings, but without any specific portion of the NSF budget dedicated to it. The idea sparked hopes of bringing a new appreciation for basic government-funded research, as well as fears that the division could take money and attention from the NSF mission to generate these discoveries.

The budget also includes $1.5 billion for thousands of “earmarks” — including more than 200 for higher education, mostly in science-related fields — in Congress’s revival of its long-banned practice of let individual lawmakers specify money for projects in their own neighborhoods.

The largest allocation benefiting academia is a $76 million commitment for the University of Alabama at Birmingham to construct a new biomedical research building. The University of Alabama at Tuscaloosa and Missouri State University also received $50 million each, for faculty recruitment and facility renovations, boosting their science and engineering work.

The bill also requires the federal government to create an online survey tool, with mandatory institutional participation, designed to measure students’ experiences with sexual harassment and assault.

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New Dean Appointed for Graduate Studies – The Famuan https://endgradeinflation.org/new-dean-appointed-for-graduate-studies-the-famuan/ Fri, 11 Mar 2022 15:29:10 +0000 https://endgradeinflation.org/new-dean-appointed-for-graduate-studies-the-famuan/ Michael Abazinge, the new Dean of the School of Graduate Students. Photo credit: wctv.tv Florida A&M University’s School of Graduate Studies and Research held its Graduate Student Appreciation Week for the 2022 academic year earlier this week. It started with a few professional development workshops as well as an opportunity to meet the Acting Dean, […]]]>
Michael Abazinge, the new Dean of the School of Graduate Students. Photo credit: wctv.tv

Florida A&M University’s School of Graduate Studies and Research held its Graduate Student Appreciation Week for the 2022 academic year earlier this week. It started with a few professional development workshops as well as an opportunity to meet the Acting Dean, Reginald K. Ellis, with a bowling event at Galimore lanes.

On Wednesday, the provost’s office announced a correction regarding the newly appointed permanent dean, Michael Abazinge. The university previously announced that its start date would be July 1. Now it will be April 1st.

The new Dean and Associate Provost is an FAMU alumnus. He graduated with the Class of 1981 and received several honors, including Associate Director of the Center for Coastal and Marine Ecosystems (CCME) of the National Oceanic and Atmospheric Administration (NOAA). He has also participated in the creation of several programs for several courses and graduate programs.

“I see myself as someone who has been in the trenches in higher education,” he said. “In this role, I want to work with students, advisors and deans to increase the number of graduate degrees awarded each year. What excites me is to participate in the training of our students to nurture our new workforce and our future leaders. »

Maurice Edington, provost and vice president of academic affairs, also released a statement.

“I am very pleased that we had a number of outstanding internal candidates. Dr. Abazinge’s remarkable achievements in scientific research, higher education, scholarship and administrative leadership made him ideally suited for this important role,” Edington said in a statement.

Some recent FAMU graduates are beginning to pursue new endeavors regarding their education by pursuing graduate studies.

FAMU alumnus Janay Shuler says FAMU pushed her to decide to go to graduate school and. She added that she is looking forward to the most from this new journey.

“Graduating from FAMU was a huge accomplishment and coming from a generation of Rattlers, I found I wanted to continue that legacy,” Shuler said. “Amazingly, as I have my class schedule and get closer to the first day of class, I’m not as nervous as I thought. I actually feel over prepared and very excited more than anything.

Graduate Appreciation Week ended with a Graduate Recruitment Fair held in the Grand Ballroom where most schools and colleges were represented. One initiative offered by the graduate school is the Graduate Feeders Scholars program which offers students interested in graduate studies the opportunity to have their tuition paid.

For more information about the School of Graduate Studies and Research, email gradstudies@famu.edu

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Enrollment in higher education tends to increase https://endgradeinflation.org/enrollment-in-higher-education-tends-to-increase/ Wed, 09 Mar 2022 23:10:19 +0000 https://endgradeinflation.org/enrollment-in-higher-education-tends-to-increase/ A November 2021 report from the Council of Graduate Schools found that applications for graduate school admissions increased 7.3% year-over-year in fall 2020, a growth rate that far exceeds the average growth of 2.5% year-on-year over the previous 10. years. Enrollment among students of color grew the most – among Latinx students, there was a […]]]>

A November 2021 report from the Council of Graduate Schools found that applications for graduate school admissions increased 7.3% year-over-year in fall 2020, a growth rate that far exceeds the average growth of 2.5% year-on-year over the previous 10. years.

Enrollment among students of color grew the most – among Latinx students, there was a 20.4% year-over-year increase; among black or African American students, a 16% increase; and among Native American and Alaska Native students, an increase of 8.8%. Across all institutions, according to the report, business, biological and agricultural sciences, and health sciences saw the largest increases, while engineering fields saw the largest declines in enrollment.

Much of these declines align with economic trends during the pandemic: As the number of COVID-19 cases soared, hospitals and labs struggled to meet the high demand for their services. In turn, many institutions and companies offered large cash incentives to attract new employees. And Hispanic, Black, and Indigenous students have been disproportionately impacted not only by COVID-19 as a health crisis, but also economically, as businesses shut down during the pandemic.

life changes

“People have stopped to think about what people want to do with their lives and what makes sense,” says Dr. Janet C. Rutledge, vice provost and dean of the University of Maryland Graduate School. , Baltimore County, a minority-serving institution known for its work in training STEM graduates of color. “There were a lot of people at the last minute who decided to go to school, and school may be the most attractive option when work and other things are not going well. .”

Program leaders are getting creative with online recruiting, including hosting Zoom performance days with breakout sessions — and it’s actually proven hugely beneficial, Rutledge says, because students who don’t not physically live in the state can “see” the campus and interact with current and former faculty and students in a virtual environment.

Rutledge says she has seen a surge in 2021 in the number of people returning to earn teaching certificates and additional degrees in education, bucking a trend that has shown a decline in the number of people graduating nationwide “for years”. Looking at applications for fall 2022, Rutledge thinks the trend will continue, an encouraging observation given the prevalence of talk of an impending teacher shortage.

“It’s a really nice uptick to see,” says Rutledge, adding that “seeing this turnaround during the pandemic” is particularly positive, given recent reports that one in four teachers plan to quit after the school year in Classes.

In addition to education, public policy and community leadership programs have also seen renewed interest. And while international enrollment dropped significantly at graduate schools nationwide in fall 2020 – the number of first-time international students “decreased significantly,” from 20% in fall 2019 to 12.6% in fall 2020 – largely due to pandemic travel restrictions. Rutledge says there has been an increase in the number of international students returning to UMBC in the fall of 2021.

She attributes some of that to going virtual. While most programs at UMBC and institutions across the country have returned to in-person instruction, Rutledge says the university has added several new hybrid programs and is offering more flexible options, even within the hybrid structure, which allow students to take a greater part of their courses remotely.

“We had a handful of programs and a bunch of other [departments] who was talking about it [pre-pandemic], and now we have programs that were never talked about that are starting to spring up” and are looking at hybrid or fully online programs, Rutledge says. “The biggest change is in the faculty that [now] see that online is not of lesser quality” after being forced to put everything online in early 2020.

UMBC — which enrolls many master’s students from nearby engineering powerhouses like Northrop Grumman or those in government positions in the region — sees many benefits of online education. Even though students may be geographically close to the school due to work, “many say it’s easier to take the course online because it doesn’t mean leaving work,” explains Rutledge. “It’s much more convenient for their lifestyle.”

Online is not best for everyone

But Dr. Ashagre Yigletu, dean of the Graduate School at Southern University and the Agricultural and Mechanical College of Louisiana, says for some students, online learning still poses many challenges.

While many of the 850 graduate students across the South were excited about the prospect of online learning – Louisiana has been one of the states hardest hit by the pandemic, and it continues to have one of the highest rates. vaccination rates – Yigletu says many students have suffered.

“They wanted to be home, to be safe for themselves, their parents, the elderly at home,” he says, noting that many predominantly black students at HBCUs come from households that have been even more affected. than the state as a whole by the COVID -19 crisis. But for many students enrolled in graduate programs at Southern, Yigletu says GPAs have plummeted.

When you consider that many Southern students were eligible for the Pell Scholarship as undergraduates, in-person learning really is the best, he continues.

“[Our] students really earn more through person-to-person learning, as opposed to online learning,” says Yigletu. “It’s not a cultural issue; you have to dig into the economic status of their parents. These are students from communities in economic difficulty. …Those in underserved communities prefer more personal environments, because we can explain more, we can reach further, they can meet the professors during their office hours.

And there are the well-documented disparities in access to technology and other resources that also impact students from economically challenged communities – “This is a problem that has been created because of the income inequality,” he says.

On top of that, many students have lost their jobs during the pandemic, which Yigletu says has impacted their ability to pay for tuition. And since many employers did not allow additional staff on-site, this prevented students from participating in experiential learning opportunities that would normally enhance their classroom learning.

Overall, enrollment in Southern graduate programs has increased in line with national trends, and Yingletu says program-by-program enrollment is also in line with national trends. Although international student enrollment has yet to return to pre-pandemic numbers as travel restrictions remain in place and some students face difficulty obtaining visas, he points to one exception: India has sent more more students than ever at Southern’s graduate school.

Students and mental health

But Yigletu says registration is one thing. Still, he remains concerned about the mental health of students, who are still struggling with the ongoing effects of the pandemic.

Rutledge says the same is true at UMBC.

“We face a big challenge, and that is the isolation of students and how that affects mental health,” she says. “We’re talking about the students who have thrived online, but there are also students who aren’t thriving, who miss the community they had when they were in person and seeing people and interacting with people. .”

Southern’s graduate student association responded by hosting more on-campus events and workshops to give students the opportunity to interact with one another.

Overall, Rutledge says she’s encouraged by “how this pandemic has just transformed the way we do things and really forced us to really think about what we were doing and what we were trying to accomplish and the best way to do it”.

“In some ways, I think this could be a very useful time that we’ve been forced to go through, but we have an opportunity to rethink” how higher education as a whole serves students, she says. “We don’t want to throw away everything we were doing, but normality wasn’t working for a group” of students and faculty members.

This article originally appeared in the March 17, 2022 edition of Miscellaneous.

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BARNES & NOBLE EDUCATION, INC. : Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q) https://endgradeinflation.org/barnes-noble-education-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Tue, 08 Mar 2022 21:49:12 +0000 https://endgradeinflation.org/barnes-noble-education-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Unless the context otherwise indicates, references to "we," "us," "our" and "the Company" refer to Barnes & Noble Education, Inc. or "BNED", a Delaware corporation. References to "Barnes & Noble College" or "BNC" refer to our subsidiary Barnes & Noble College Booksellers, LLC. References to "MBS" refer to our subsidiary MBS Textbook Exchange, LLC. Overview […]]]>
Unless the context otherwise indicates, references to "we," "us," "our" and "the
Company" refer to Barnes & Noble Education, Inc. or "BNED", a Delaware
corporation. References to "Barnes & Noble College" or "BNC" refer to our
subsidiary Barnes & Noble College Booksellers, LLC. References to "MBS" refer to
our subsidiary MBS Textbook Exchange, LLC.

Overview

Company Description


Barnes & Noble Education, Inc. ("BNED") is one of the largest contract operators
of physical and virtual bookstores for college and university campuses and K-12
institutions across the United States. We are also one of the largest textbook
wholesalers, inventory management hardware and software providers, and a leading
provider of digital education solutions. We operate 1,441 physical, virtual, and
custom bookstores and serve more than 6 million students, delivering essential
educational content and tools within a dynamic omnichannel retail environment.
Additionally, we offer direct-to-student products and services to help students
study more effectively and improve academic performance.

The strengths of our business include our ability to compete by developing new
products and solutions to meet market needs, our large operating footprint with
direct access to students and faculty, our well-established, deep relationships
with academic partners and stable, long-term contracts and our well-recognized
brands. We expect to continue to introduce scalable and advanced digital
solutions focused largely on the student, expand our e-commerce capabilities and
accelerate such capabilities through our merchandising partnership with Fanatics
Retail Group Fulfillment, LLC, Inc. ("Fanatics") and Fanatics Lids College, Inc.
("FLC") (collectively referred to herein as the "FLC Partnership"), increase
market share with new accounts, and expand our strategic opportunities through
acquisitions and partnerships.

We expect gross general merchandise sales to increase over the long term, as our
product assortments continue to emphasize and reflect changing consumer trends,
and we evolve our presentation concepts and merchandising of products in stores
and online, which we expect to be further enhanced and accelerated through the
FLC Partnership. Through this partnership, we receive unparalleled product
assortment, e-commerce capabilities and powerful digital marketing tools to
drive increased value for customers and accelerate growth of our logo and
emblematic general merchandise business.

We believe the Barnes & Noble brand (licensed from our former parent) along with
our subsidiary brands, BNC and MBS, are synonymous with innovation in
bookselling and campus retailing, and are widely recognized and respected brands
in the United States. Our large college footprint, reputation, and credibility
in the marketplace not only support our marketing efforts to universities,
students, and faculty, but are also important to our relationship with leading
publishers who rely on us as one of their primary distribution channels, and for
being a trusted source for students in our direct-to-student digital solutions
business.

For more information about our activities, see Part I – Item 1. Activities of our Annual Report on Form 10-K for the year ended May 1, 2021.

Day One Inclusive Access Programs


We provide product and service offerings designed to address the most pressing
issues in higher education, including equitable access, enhanced convenience and
improved affordability through innovative course material delivery models
designed to drive improved student experiences and outcomes. We offer our BNC
First Day® inclusive access programs, consisting of First Day and First Day
Complete, in which course materials, including both physical and digital
content, are offered at a reduced price through a course fee or included in
tuition, and delivered to students on or before the first day of class.

•Through First Day, digital course materials are adopted by a faculty member for
a single course, and students receive their materials through their learning
management system.

•First Day Complete is adopted by an institution and includes all classes,
providing students both physical and digital materials. The First Day Complete
model drives substantially greater unit sell-through for the bookstore.

Offering courseware sales through our inclusive access First Day and First Day
Complete models is a key, and increasingly important strategic initiative of
ours to meet the market demands of substantially reduced pricing to students, as
well as the opportunity to improve student outcomes, while, at the same time,
increasing our market share, revenue and relative gross profits of courseware
sales given the higher volumes of units sold in such models as compared to
historical sales models that rely on individual student marketing and sales. We
expect these programs to allow us to ultimately reverse historical long-term
trends in courseware revenue declines, which has been observed at those schools
where such programs have been adopted.
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————————————————– ——————————

Contents

Partnership with Fanatics and FLC


In December 2020, we entered into the FLC Partnership. Through this partnership,
we receive unparalleled product assortment, e-commerce capabilities and powerful
digital marketing tools to drive increased value for customers and accelerate
growth of our general merchandise business. Fanatics' cutting-edge e-commerce
and technology expertise offers our campus stores expanded product selection, a
world-class online and mobile experience, and a progressive direct-to-consumer
platform. Coupled with Lids (FLC's parent company), the leading standalone brick
and mortar retailer focused exclusively on licensed fan and alumni products, our
campus stores have improved access to trend and sales performance data on
licensees, product styles, and design treatments.

We maintain our relationships with campus partners and remain responsible for
staffing and managing the day-to-day operations of our campus bookstores. We
also work closely with our campus partners to ensure that each campus store
maintains unique aspects of in-store merchandising, including localized product
assortments and specific styles and designs that reflect each campus's brand. We
leverage Fanatics' e-commerce technology and expertise for the operational
management of the emblematic merchandise and gift sections of our campus store
websites. FLC manages in-store assortment planning and merchandising of
emblematic apparel, headwear, and gift products for our partner campus stores.

In December 2020, Fanatics, Inc. and Lids Holdings, Inc. jointly made a
strategic equity investment in BNED. On April 4, 2021, as contemplated by the
FLC Partnership's merchandising agreement, we sold our logo and emblematic
general merchandise inventory to FLC, which was finalized during the first
quarter of Fiscal 2022. As contemplated by the FLC Partnership's e-commerce
agreement, we began to transition certain of our e-commerce sites to Fanatics
e-commerce sites for logo and emblematic products during the first quarter of
Fiscal 2022. As the logo and emblematic general merchandise sales are fulfilled
by FLC and Fanatics, we recognize commission revenue earned for these sales on a
net basis in our condensed consolidated financial statements, as compared to the
recognition of logo and emblematic general merchandise sales on a gross basis in
the prior year. For additional information, see Item 1. Financial Statements -
Note 2. Summary of Significant Accounting Policies - Merchandise Inventories.

Impact of COVID-19 on businesses


Our business experienced an unprecedented and significant negative impact as a
result of COVID-19 related campus store closures. Beginning in March 2020,
colleges and universities nationwide began to close their campuses in light of
safety concerns and as a result of local and state issued stay-at-home orders.
By mid-March, during our Fiscal 2020 fourth quarter, we closed the majority of
our physical campus stores to protect the health and safety of our customers and
employees.

While our campus stores were closed, we continued to serve institutions and
students through our campus websites, providing free shipping on all orders and
an expanded digital content offering to provide immediate access to course
materials to students at our campuses that closed due to COVID-19. We developed
and implemented plans to safely reopen our campus stores based on national,
state and local guidelines, as well as the campus policies set by the school
administration.

Despite the introduction of COVID-19 vaccines, the pandemic remains highly
volatile and continues to evolve. We cannot accurately predict the duration or
extent of the impact of the COVID-19 virus, including variants, on enrollments,
campus activities, university budgets, athletics and other areas that directly
affect our business operations. Although most four year schools returned to a
traditional on-campus environment for learning in the Fall semester, as well as
hosted traditional on campus sporting activities , there is still uncertainty
about the duration and extent of the impact of the COVID-19 pandemic, including
on enrollments at community colleges and by international students, the
continuation of remote and hybrid class offerings, and its effect on our ability
to source products, including textbooks and general merchandise offerings.

As we entered the Spring rush period in early January 2022, we continued to
experience the ongoing effects of COVID-19 with the surge of the Omicron variant
further impacting students return to campus and on-campus activities. In early
January, while the majority of schools brought students back to campus, some
schools chose to conduct classes virtually for the beginning of the semester,
while other schools chose to delay their start dates (and some schools both
delayed the start of the semester and started classes virtually), thus reducing
and/or delaying sales later into the quarter or shifting some sales to our
fourth quarter. We will continue to assess our operations and will continue to
consider the guidance of local governments and our campus partners to determine
how to operate our bookstores in the safest manner for our employees and
customers. If economic conditions caused by the pandemic do not recover as
currently estimated by management or market factors currently in place change,
there could be a further impact on our results of operations, financial
condition and cash flows from operations. For additional information, see Part I
- Item 1. Business in our Annual Report on Form 10-K for the fiscal year ended
May 1, 2021.

Segments

We have three reportable segments: Retail, Wholesale and DSS. In addition, unallocated shared services costs, which include various enterprise-level expenses and other governance functions, continue to be reported as “Enterprise Services”.

We identify our segments based on how our business is managed (focusing on financial reporting

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distributed) and the manner in which our chief operating decision maker
allocates resources and assesses financial performance. The following summarizes
the three segments. For additional information about each segment's operations,
see Part I - Item 1. Business in our Annual Report on Form 10-K for the fiscal
year ended May 1, 2021.

Retail Segment

The Retail Segment operates 1,441 college, university, and K-12 school
bookstores, comprised of 799 physical bookstores and 642 virtual bookstores. Our
bookstores typically operate under agreements with the college, university, or
K-12 schools to be the official bookstore and the exclusive seller of course
materials and supplies, including physical and digital products. The majority of
the physical campus bookstores have school-branded e-commerce sites which we
operate independently or along with our merchant partners, and which offer
students access to affordable course materials and affinity products, including
emblematic apparel and gifts. The Retail Segment also offers inclusive access
programs, in which course materials are offered at a reduced price through a fee
charged by the institution or included in tuition, and delivered to students on
or before the first day of class. Additionally, the Retail Segment offers a
suite of digital content and services to colleges and universities, including a
variety of open educational resource-based courseware.

Wholesale segment


The Wholesale Segment is comprised of our wholesale textbook business and is one
of the largest textbook wholesalers in the country. The Wholesale Segment
centrally sources, sells, and distributes new and used textbooks to
approximately 3,100 physical bookstores (including our Retail Segment's 799
physical bookstores) and sources and distributes new and used textbooks to our
642 virtual bookstores. Additionally, the Wholesale Segment sells hardware and a
software suite of applications that provides inventory management and
point-of-sale solutions to approximately 400 college bookstores.

DSS segment


The Digital Student Solutions ("DSS") Segment includes direct-to-student
products and services to assist students to study more effectively and improve
academic performance. The DSS Segment is comprised of the operations of Student
Brands, LLC, a leading direct-to-student subscription-based writing services
business, and bartleby®, a direct-to-student subscription-based offering
providing textbook solutions, expert questions and answers, writing and
tutoring.

Corporate Services represents unallocated shared-service costs which include
corporate level expenses and other governance functions, including executive
functions, such as accounting, legal, treasury, information technology, and
human resources.

Seasonality


Our business is highly seasonal. Our quarterly results also may fluctuate
depending on the timing of the start of the various schools' semesters, as well
as shifts in our fiscal calendar dates. These shifts in timing may affect the
comparability of our results across periods. Our fiscal year is comprised of 52
or 53 weeks, ending on the Saturday closest to the last day of April.

For our retail operations, sales are generally highest in the second and third
fiscal quarters, when students generally purchase and rent textbooks and other
course materials, and lowest in the first and fourth fiscal quarters. Sales
attributable to our wholesale business are generally highest in our first,
second and third quarter, as it sells textbooks and other course materials for
retail distribution. For our DSS segment, or direct-to-student business, sales
and operating profit are realized relatively consistently throughout the year.

Trends, competition and other business conditions affecting our business

The educational materials market is undergoing unprecedented change. As tuition and other costs rise, colleges and universities face increasing pressure to attract and retain students and provide them with innovative and affordable educational content and tools that support their educational development. Current trends, competition and other factors affecting our business include:


•Overall Economic Environment, College Enrollment and Consumer Spending
Patterns. Our business is affected by the impact of the COVID-19 pandemic, the
overall economic environment, funding levels at colleges and universities, by
changes in enrollments at colleges and universities, and spending on course
materials and general merchandise.

•Impact of the COVID-19 Pandemic: The COVID-19 pandemic has materially and
adversely impacted certain segments of the U.S. economy, with legislative and
regulatory responses including unprecedented monetary and fiscal policy actions
across all sectors, and there is significant uncertainty as to timing of
stabilization and recovery, including the ability to gain adequate herd-immunity
levels through vaccine programs and their resilience to future virus variants.
Many colleges and K-12 schools were required to cease in-person classes in an
attempt to limit the spread of the COVID-19 virus and ensure the safety of their
students. Although many academic institutions have reopened, some are providing
alternatives to traditional in-person instruction, including online and hybrid
learning options and
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dramatically reduced classroom size. In addition, our company, like many others, has been affected by the difficult labor market and the ability to recruit employees.

• Economic Environment: General merchandise retail sales are subject to short-term fluctuations caused by the general retail environment and other economic factors, such as interest rate fluctuations and inflationary considerations. Broader global supply chain macro issues have impacted our ability to source school supplies and general merchandise sold at our campus bookstores, including technology-related products and signature apparel. .


•Enrollment Trends: The growth of our business depends on our ability to attract
new customers and to increase the level of engagement by our current student
customers. We continue to see downward enrollment trends. Enrollment trends,
specifically at community colleges, generally correlate with changes in the
economy and unemployment factors, e.g. low unemployment tends to lead to low
enrollment and higher unemployment rates tend to lead to higher enrollment
trends, as students generally enroll to obtain skills that are in demand in the
workforce. Enrollment trends have been negatively impacted overall by COVID-19
concerns at physical campuses. A significant reduction in U.S. economic activity
and increased unemployment could lead to decreased enrollment and consumer
spending. Additionally, enrollment trends are impacted by the dip in the United
States birth rate resulting in fewer students at the traditional 18-24 year-old
college age. Online degree program enrollments continue to grow, even in the
face of declining overall higher education enrollment.

•Increased Use of Online and Digital Platforms as Companions or Alternatives to
Printed Course Materials. Students and faculty can now choose from a wider
variety of educational content and tools than ever before, delivered across both
print and digital platforms.

•Increasing Costs Associated with Defending Against Security Breaches and Other
Data Loss, Including Cyber-Attacks. We are increasingly dependent upon
information technology systems, infrastructure and data. Cyber-attacks are
increasing in their frequency, sophistication and intensity, and have become
increasingly difficult to detect. We continue to invest in data protection and
information technology to prevent or minimize these risks and, to date, we have
not experienced any material service interruptions and are not aware of any
material breaches.

•Distribution Network Evolving. The way course materials are distributed and
consumed is changing significantly, a trend that is expected to continue. The
market for course materials, including textbooks and supplemental materials, is
intensely competitive and subject to rapid change.

•Disintermediation. We are experiencing growing competition from alternative
media and alternative sources of textbooks and other course materials. In
addition to the official physical or virtual campus bookstore, course materials
are also sold through off-campus bookstores, e-commerce outlets, digital
platform companies, publishers, including Cengage, Pearson and McGraw Hill,
bypassing the bookstore distribution channel by selling or renting directly to
students and educational institutions, and student-to-student transactions over
the Internet.

•Supply Chain and Inventory. Since the demand for used textbooks has
historically been greater than the available supply, our financial results are
highly dependent upon Wholesale's ability to build its textbook inventory from
suppliers in advance of the selling season. Recently, the impact of fewer
students on campus due to COVID-19 has significantly impacted our on-campus
buyback programs which supplies Wholesale's used textbook inventory for future
selling periods. Some textbook publishers have begun to supply textbooks
pursuant to consignment or rental programs which could impact used textbook
supplies in the future. Additionally, Wholesale is a national distributor for
rental textbooks offered through McGraw-Hill Education's and Pearson Education's
consignment rental program, both of which are relatively nascent. The broader
macro-economic global supply chain issues may also impact our ability to source
school supplies and general merchandise sold in our campus bookstores, including
technology-related products and emblematic clothing.

•Price Competition. In addition to the competition in the services we provide to
our customers, our textbook and other course materials business faces
significant price competition. Students purchase textbooks and other course
materials from multiple providers, are highly price sensitive, and can easily
shift spending from one provider or format to another.

• A large number of traditional academic libraries have yet to be outsourced.


•Outsourcing Trends. We continue to see the trend towards outsourcing in the
campus bookstore market and also continue to see a variety of business models
being pursued for the provision of course materials (such as inclusive access
programs and publisher subscription models) and general merchandise.

• New and existing bookstore contracts. We anticipate that the awarding of new accounts resulting in the opening of new physical and virtual stores will continue to be an important driver of future growth for our business. We also expect some less

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profitable or essential bookstores we operate may close. Such stores could be
included in contracts for stores we operate that may be deemed non-essential;
and such stores could be operated by others or independently by schools. The
scope of any such store closures remains uncertain, although we are not aware,
at this time, of any significant volume of stores which we operate that are
likely to close or have informed us of upcoming closures.

For additional discussion of our trends and other factors affecting our business, see Part I – Item 1. Activities in our Annual Report on Form 10-K for the fiscal year ended May 1, 2021.

Items of operating results

Our summary consolidated financial statements reflect our consolidated financial position, results of operations and cash flows in accordance with generally accepted accounting principles in United States (“GAAP”). The results of operations reflected in our consolidated financial statements are presented on a consolidated basis. All significant intercompany accounts and transactions have been eliminated on consolidation.


Our sales are primarily derived from the sale of course materials, which include
new, used and digital textbooks, and at college and university bookstores which
we operate, we sell high margin general merchandise, including emblematic
apparel and gifts, trade books, computer products, school and dorm supplies,
convenience and café items and graduation products. Our rental income is
primarily derived from the rental of physical textbooks. We also derive revenue
from other sources, such as sales of inventory management, hardware and
point-of-sale software, direct-to-student subscription-based services, and other
services.

Our cost of sales primarily includes costs such as merchandise costs, textbook
rental amortization, content development cost amortization, warehouse costs
related to inventory management and order fulfillment, insurance, certain
payroll costs, and management service agreement costs, including rent expense,
related to our college and university contracts and other facility related
expenses.

Our selling and administrative expenses consist primarily of store payroll and
store operating expenses. Selling and administrative expenses also include
long-term incentive plan compensation expense and general office expenses, such
as merchandising, procurement, field support, finance and accounting, and
operating costs related to our direct-to-student subscription-based services
business. Shared-service costs such as human resources, legal, treasury,
information technology, and various other corporate level expenses and other
governance functions, are not allocated to any specific reporting segment and
are recorded in Corporate Services as discussed in the Overview - Segments
discussion above.

Results of Operations – Summary


                                                     13 weeks ended                             39 weeks ended
                                            January 29,           January 30,          January 29,          January 30,
Dollars in thousands                           2022                  2021                  2022                 2021
Sales:
Product sales and other                   $    377,713          $    373,502          $ 1,182,812          $ 1,118,544
Rental income                                   25,085                38,111               87,757               92,568
Total sales                               $    402,798          $    411,613          $ 1,270,569          $ 1,211,112

Net loss                                  $    (36,801)         $    (48,289)         $   (58,619)         $   (87,426)

Adjusted earnings (non-GAAP) (a) ($28,946) ($25,572) $(44,005) ($56,213)


Adjusted EBITDA by Segment (non-GAAP) (a)
Retail                                    $    (15,386)         $    (22,222)         $     4,436          $   (44,538)
Wholesale                                        4,163                 6,322               11,810               25,856
DSS                                              1,476                 1,005                3,975                3,358
Corporate Services                              (5,154)               (6,491)             (19,407)             (17,236)
Elimination                                      1,800                   604                  556               (1,704)

Total adjusted EBITDA (non-GAAP) $(13,101) $(20,782) $1,370 ($34,264)

(a) Adjusted Earnings, Adjusted EBITDA and Adjusted EBITDA by Segment are non-GAAP financial measures. See the discussion on the use of non-GAAP measures below.

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Table of Contents The following table shows, for the periods indicated, the percentage ratio that certain items have with total sales:


                                                              13 weeks ended                                        39 weeks ended
                                                 January 29,                January 30,                January 29,                January 30,
                                                     2022                       2021                       2022                       2021
Sales:
Product sales and other                                  93.8  %                      90.7  %                  93.1  %                      92.4  %
Rental income                                             6.2                          9.3                      6.9                          7.6
Total sales                                             100.0                        100.0                    100.0                        100.0
Cost of sales (exclusive of depreciation and
amortization expense):
Product and other cost of sales (a)                      78.8                         84.5                     78.2                         83.5
Rental cost of sales (a)                                 72.3                         66.6                     60.5                         65.4
Total cost of sales                                      78.4                         82.8                     77.0                         82.1
Gross margin                                             21.6                         17.2                     23.0                         17.9
Selling and administrative expenses                      25.2                         22.5                     23.3                         21.0
Depreciation and amortization expense                     3.0                          3.2                      2.9                          3.3
Impairment loss (non-cash)                                1.6                          6.7                      0.5                          2.3
Restructuring and other charges                             -                          0.4                      0.3                          0.9

Operating loss                                           (8.2) %                     (15.6) %                  (4.0) %                      (9.6) %


(a) Represents the percentage of these costs on the associated sales, instead of total sales.

Results of operations – 13 and 39 weeks ended January 29, 2022 compared to weeks 13 and 39 ended January 30, 2021

13 weeks completed January 29, 2022

                                                                                              Corporate
Dollars in thousands                   Retail           Wholesale             DSS             Services            Eliminations            Total
Sales:
Product sales and other             $ 349,655          $  37,039          $  9,430          $        -          $     (18,411)         $ 377,713
Rental income                          25,085                  -                 -                   -                      -             25,085
Total sales                           374,740             37,039             9,430                   -                (18,411)           402,798
Cost of sales (exclusive of
depreciation and amortization
expense):
Product and other cost of sales       287,435             28,935             1,498                   -                (20,175)           297,693
Rental cost of sales                   18,144                  -                 -                   -                      -             18,144
Total cost of sales                   305,579             28,935             1,498                   -                (20,175)           315,837
Gross profit                           69,161              8,104             7,932                   -                  1,764             86,961
Selling and administrative expenses    84,626              3,941             7,775               5,154                    (36)           101,460
Depreciation and amortization
expense                                 8,939              1,396             1,826                  18                      -             12,179
                         Sub-Total:   (24,404)             2,767            (1,669)             (5,172)                 1,800            (26,678)
Impairment loss (non-cash)              6,411                  -                 -                   -                      -              6,411
Restructuring and other charges            30                  -                 -                  16                      -                 46
Operating (loss) income             $ (30,845)         $   2,767          $ (1,669)         $   (5,188)         $       1,800          $ (33,135)


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13 weeks completed January 30, 2021

                                                                                              Corporate
Dollars in thousands                   Retail           Wholesale             DSS             Services            Eliminations            Total
Sales:
Product sales and other             $ 349,558          $  39,465          $  7,206          $        -          $     (22,727)         $ 373,502
Rental income                          38,111                  -                 -                   -                      -             38,111
Total sales                           387,669             39,465             7,206                   -                (22,727)           411,613
Cost of sales (exclusive of
depreciation and amortization
expense):
Product and other cost of sales       308,752             28,807             1,324                   -                (23,276)           315,607
Rental cost of sales                   25,394                  -                 -                   -                      -             25,394
Total cost of sales                   334,146             28,807             1,324                   -                (23,276)           341,001
Gross profit                           53,523             10,658             5,882                   -                    549             70,612
Selling and administrative expenses    75,921              4,336             6,015               6,491                    (55)            92,708
Depreciation and amortization
expense                                 9,806              1,614             1,863                  24                      -             13,307
                         Sub-Total:   (32,204)             4,708            (1,996)             (6,515)                   604            (35,403)
Impairment loss (non-cash)             27,630                  -                 -                   -                      -             27,630
Restructuring and other charges           162                  -               571                 936                      -              1,669
Operating (loss) income             $ (59,996)         $   4,708          $ (2,567)         $   (7,451)         $         604          $ (64,702)




                                                                              39 weeks ended January 29, 2022
                                                                                                Corporate
Dollars in thousands                    Retail            Wholesale             DSS             Services            Eliminations             Total
Sales:
Product sales and other             $ 1,106,404          $ 103,192          $ 26,012          $        -          $     (52,796)         $ 1,182,812
Rental income                            87,757                  -                 -                   -                      -               87,757
Total sales                           1,194,161            103,192            26,012                   -                (52,796)           1,270,569
Cost of sales (exclusive of
depreciation and amortization
expense):
Product and other cost of sales         894,936             79,063             4,144                   -                (53,219)             924,924
Rental cost of sales                     53,096                  -                 -                   -                      -               53,096
Total cost of sales                     948,032             79,063             4,144                   -                (53,219)             978,020
Gross profit                            246,129             24,129            21,868                   -                    423              292,549
Selling and administrative expenses     242,477             12,319            21,527              19,407                   (133)             295,597
Depreciation and amortization
expense                                  27,015              4,060             5,627                  53                      -               36,755
                         Sub-Total:     (23,363)             7,750            (5,286)            (19,460)                   556              (39,803)
Impairment loss (non-cash)                6,411                  -                 -                   -                      -                6,411
Restructuring and other charges           2,831                  -                 -                 954                      -                3,785
Operating (loss) income             $   (32,605)         $   7,750          $ (5,286)         $  (20,414)         $         556          $   (49,999)



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  Table of Contents
                                                                              39 weeks ended January 30, 2021
                                                                                                Corporate
Dollars in thousands                    Retail            Wholesale             DSS             Services            Eliminations             Total
Sales:
Product sales and other             $ 1,030,391          $ 156,146          $ 19,025          $        -          $     (87,018)         $ 1,118,544
Rental income                            92,568                  -                 -                   -                      -               92,568
Total sales                           1,122,959            156,146            19,025                   -                (87,018)           1,211,112
Cost of sales (exclusive of
depreciation and amortization
expense):
Product and other cost of sales         897,283            118,017             3,735                   -                (85,188)             933,847
Rental cost of sales                     60,506                  -                 -                   -                      -               60,506
Total cost of sales                     957,789            118,017             3,735                   -                (85,188)             994,353
Gross profit                            165,170             38,129            15,290                   -                 (1,830)             216,759
Selling and administrative expenses     210,286             12,273            15,054              17,236                   (126)             254,723
Depreciation and amortization
expense                                  30,361              4,231             5,883                  88                      -               40,563
                         Sub-Total:     (75,477)            21,625            (5,647)            (17,324)                (1,704)             (78,527)
Impairment loss (non-cash)               27,630                  -                 -                   -                      -               27,630
Restructuring and other charges           4,633                  -               571               5,523                      -               10,727
Operating (loss) income             $  (107,740)         $  21,625          $ (6,218)         $  (22,847)         $      (1,704)         $  (116,884)



Sales

The following table summarizes our sales for the 13 and 39 weeks ended
January 29, 2022 and January 30, 2021:


                                               13 weeks ended                                                     39 weeks ended
                            January 29,         January 30,
Dollars in thousands           2022                2021                  %                January 29, 2022           January 30, 2021               %
Product sales and other    $  377,713          $  373,502               1.1%            $       1,182,812          $       1,118,544              5.7%
Rental income                  25,085              38,111             (34.2)%                      87,757                     92,568             (5.2)%
Total Sales                $  402,798          $  411,613              (2.1)%           $       1,270,569          $       1,211,112              4.9%


Sales decreased by $8.8 million, or 2.1%, to $402.8 million during the 13 weeks
ended January 29, 2022 from $411.6 million during the 13 weeks ended January 30,
2021. The decrease is related to lower course material sales primarily due to
lower enrollments, primarily at community colleges and by international
students, and the continuation of remote and hybrid class offerings in response
to the latest COVID variant. The decrease in sales is also due to lower logo and
emblematic sales as they are reflected in sales on a net basis in our condensed
consolidated financial statements, as compared to the recognition of logo and
emblematic sales on a gross basis in the periods prior to April 4, 2021. For
additional information, see Retail Sales discussion below.

Sales increased by $59.5 million, or 4.9%, to $1,270.6 million during the 39
weeks ended January 29, 2022 from $1,211.1 million during the 39 weeks ended
January 30, 2021. The sales increase is primarily related to the impact from
re-opening stores that had temporarily closed due to the COVID-19 pandemic in
the prior year. The increase is offset by lower sales primarily due to lower
enrollments, primarily at community colleges and by international students, the
continuation of remote and hybrid class offerings and lower logo and emblematic
sales as they are reflected in sales on a net basis in our condensed
consolidated financial statements, as compared to the recognition of logo and
emblematic sales on a gross basis in the periods prior to April 4, 2021. For
additional information, see Retail Sales discussion below.
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The components of the variances for the 13 and 39 week periods are reflected in
the table below.

Sales variances                                            13 weeks ended                                        39 weeks ended
Dollars in millions                          January 29, 2022           January 30, 2021           January 29, 2022          January 30, 2021
Retail Sales
New stores                                 $            17.3          $            17.3          $            53.9          $           52.7
Closed stores                                           (7.4)                      (8.3)                     (28.7)                    (32.2)
Comparable stores (a)                                  (10.2)                     (83.3)                      57.2                    (384.0)
Textbook rental deferral                               (11.5)                       1.6                       (8.1)                     11.7
Service revenue (b)                                     (2.1)                       1.8                       (2.0)                     (1.9)
Other (c)                                                1.0                        0.6                       (1.1)                      2.2
              Retail sales subtotal:       $           (12.9)         $           (70.3)         $            71.2          $         (351.5)

Wholesale Sales                            $            (2.4)         $           (27.5)         $           (53.0)         $          (23.4)
DSS Sales                                  $             2.2          $             0.8          $             7.0          $            2.0
Eliminations (d)                           $             4.3          $             6.3          $            34.3          $          (10.2)
               Total sales variance:       $            (8.8)         $           (90.7)         $            59.5          $         (383.1)


(a)  In December 2020, we entered into merchandising partnership with Fanatics
Retail Group Fulfillment, LLC, Inc. ("Fanatics") and Fanatics Lids College, Inc.
("FLC") (collectively referred to herein as the "FLC Partnership"). Effective
April 4, 2021, as contemplated by the FLC Partnership's merchandising agreement
and e-commerce agreement, we began to transition the fulfillment of logo and
emblematic general merchandise sales to FLC and Fanatics. As the logo and
emblematic general merchandise sales are fulfilled by FLC and Fanatics, we
recognize commission revenue earned for these sales on a net basis in our
condensed consolidated financial statements, as compared to the recognition of
logo and emblematic sales on a gross basis in the periods prior to April 4,
2021. For Retail Gross Comparable Store Sales details, see below.

(b) Services revenue includes brand partnerships, shipping and handling, and other program revenue.


(c)  Other includes inventory liquidation sales to third parties, marketplace
sales and certain accounting adjusting items related to return reserves, and
other deferred items.

(d) Eliminates wholesale and retail service charges and retail commissions earned from wholesale. See discussion of intercompany activities and eliminations below.


Retail

Retail sales decreased by $12.9 million, or 3.3%, to $374.7 million during the
13 weeks ended January 29, 2022 from $387.7 million during the 13 weeks ended
January 30, 2021. Retail sales increased by $71.2 million, or 6.3%, to $1,194.2
million during the 39 weeks ended January 29, 2022 from $1,123.0 million during
the 39 weeks ended January 30, 2021.

Retail added 82 new stores and closed 58 stores in the 39 weeks ended
January 29, 2022ending the period with a total of 1,441 stores.

                                                                       13 weeks ended                                                                               39 weeks ended
                                            January 29, 2022                               January 30, 2021                              January 29, 2022                               January 30, 2021
Number of Stores:                    Physical               Virtual                Physical                  Virtual              Physical               Virtual                Physical                  Virtual
Number of stores at beginning of
period                                  794                   651                         769                    671                 769                   648                         772                    647
Opened                                    6                     -                           -                      7                  47                    35                          30                     58
Closed                                    1                     9                           4                      2                  17                    41                          37                     29
Number of stores at end of period       799                   642                         765                    676                 799                   642                         765                    676




Product and other sales and Rental income are impacted by comparable store
sales, the growth of First Day Complete, new store openings and store closings,
as well as the impact from the COVID-19 pandemic. Sales were impacted by overall
enrollment declines in higher education. Although most four year schools
returned to a traditional on-campus environment for learning in the Fall
semester, as well as hosted traditional on campus sporting activities, there is
still uncertainty about the duration and extent of the impact of the COVID-19
pandemic, including on enrollments at community colleges and by international
students, and the continuation of remote and hybrid class offerings. While many
conferences resumed their sport activities, other on campus events, such as
Parent's Weekends or Alumni events, continue to be either eliminated or severely
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restricted, which further impacted the company's general merchandise business.
As we entered the Spring rush period in early January 2022, we continued to
experience the ongoing effects of COVID-19 with the surge of the Omicron variant
further impacting students return to campus and on-campus activities. In early
January, while the majority of schools brought students back to campus, some
schools chose to conduct classes virtually for the beginning of the semester,
while other schools chose to delay their start dates (and some schools both
delayed the start of the semester and started classes virtually), thus reducing
and/or delaying sales later into the quarter or shifting some sales to our
fourth quarter.

Product and other sales for Retail for the 13 weeks ended January 29, 2022
remained flat at $349.6 million during the 13 weeks ended January 30, 2021.
Rental income for Retail for the 13 weeks ended January 29, 2022 decreased by
$13.0 million, or 34.2% to $25.1 million from $38.1 million during the 13 weeks
ended January 30, 2021. During the 13 weeks ended January 29, 2022, course
material sales and rentals were impacted by lower enrollments, primarily at
community colleges and by international students, and the continuation of remote
and hybrid class offerings, which was somewhat mitigated by the growth of First
Day Complete.

Product and other sales for Retail for the 39 weeks ended January 29, 2022
increased by $76.0 million, or 7.4% to $1,106.4 million from $1,030.4 million
during the 39 weeks ended January 30, 2021. Rental income for Retail for the 39
weeks ended January 29, 2022 decreased by $4.8 million, or 5.2% to $87.8 million
from $92.6 million during the 39 weeks ended January 30, 2021. The overall
Retail sales increase is primarily related to the impact from re-opening stores
that had temporarily closed due to the COVID-19 pandemic in the prior year.
Course material sales were also impacted by to lower enrollments, primarily at
community colleges and by international students, and the continuation of remote
and hybrid class offerings.

During the 13 weeks ended January 29, 2022, Retail Gross Comparable Store
textbook sales decreased by 4.0%, as compared to an 8.1% decline a year ago.
During the 39 weeks ended January 29, 2022, Retail Gross Comparable Store
textbook sales increased by 2.0%, as compared to a 14.3% decline a year ago,
when the majority of our stores had temporarily closed due to the COVID-19
pandemic. See Retail Gross Comparable Store Sales discussion below. Course
material declines were mitigated by the growth of First Day (our inclusive
access program), digital and eTextbook revenue increases, due to a shift to
lower cost options and more affordable solutions, including digital offerings.
For the 2022 Spring term, First Day Complete was offered through 76 campus
bookstores compared to 14 campus bookstores in the prior year, at schools with
over 380,000 in total undergraduate enrollment, up from approximately 62,000 in
total undergraduate enrollment in the 2021 Spring term. Revenue for both of our
First Day models increased to $76.1 million during the third quarter of Fiscal
2022, as compared to $46.4 million in the prior year period. Revenue for both of
our First Day models increased to $199.2 million during Fiscal 2022, as compared
to $108.9 million in the prior year period.

During the 13 and 39 weeks ended January 29, 2022, logo and emblematic sales are
reflected in sales on a net basis in our condensed consolidated financial
statements, as compared to the recognition of logo and emblematic sales on a
gross basis in the prior year period. See Retail Gross Comparable Store Sales
discussion below. During the 13 weeks ended January 29, 2022, Retail Gross
Comparable Store general merchandise sales increased by 59.1%, as compared to a
45.8% decline a year ago. During the 39 weeks ended January 29, 2022, Retail
Gross Comparable Store general merchandise sales increased by 82.0%, as compared
to a 54.9% decline a year ago. Both results during both periods benefited
greatly from the return to an on campus learning experience and the resumption
of many activities and events. Sales for general merchandise, including
on-campus cafe and convenience products, and trade merchandise have increased
compared to the prior year, when sales were impacted by the temporary store
closings due to the COVID-19 pandemic. However, general merchandise sales are
still impacted by fewer students returning to campus, as many schools
implemented a remote or hybrid learning model and curtailed on-campus classes
and activities.

Same Store Gross Retail Sales


To supplement the Total Sales table presented above, the Company uses Retail
Gross Comparable Store Sales as a key performance indicator. Retail Gross
Comparable Store Sales includes sales from physical and virtual stores that have
been open for an entire fiscal year period and does not include sales from
permanently closed stores for all periods presented. For Retail Gross Comparable
Store Sales, sales for logo and emblematic general merchandise fulfilled by FLC,
Fanatics and digital agency sales are included on a gross basis for consistent
year-over-year comparison.

Effective April 4, 2021, as contemplated by the FLC Partnership's merchandising
agreement and e-commerce agreement, we began to transition the fulfillment of
logo and emblematic general merchandise sales to FLC and Fanatics. As the logo
and emblematic general merchandise sales are fulfilled by FLC and Fanatics, we
recognize commission revenue earned for these sales on a net basis in our
condensed consolidated financial statements, as compared to the recognition of
logo and emblematic sales on a gross basis in the periods prior to April 4,
2021.

We believe the current Retail Gross Comparable Store Sales calculation method
reflects management's view that such comparable store sales are an important
measure of the growth in sales when evaluating how established stores have
performed over time. We present this metric as additional useful information
about the Company's operational and financial performance and to allow greater
transparency with respect to important metrics used by management for operating
and financial decision-
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making. Retail Gross Comparable Store Sales are also referred to as "same-store"
sales by others within the retail industry and the method of calculating
comparable store sales varies across the retail industry. As a result, our
calculation of comparable store sales is not necessarily comparable to similarly
titled measures reported by other companies and is intended only as supplemental
information and is not a substitute for net sales presented in accordance with
GAAP.

Retail same store gross sales variances for retail by category for the 13 and 39 week periods are as follows:

                                                       13 weeks ended                                                         39 weeks ended
Dollars in millions                  January 29, 2022                   January 30, 2021                   January 29, 2022                   January 30, 2021
Textbooks (Course
Materials)                     $  (11.9)            (4.0) %       $  (25.0)            (8.1) %       $   17.4              2.0  %       $  (136.1)           (14.3) %
General Merchandise                41.2             59.1  %          (58.0)           (45.8) %          164.5             82.0  %          (242.2)           (54.9) %
Trade Books                         1.6             48.5  %           (5.5)           (61.1) %            5.0             61.6  %           (19.4)           (69.3) %
Total Retail Gross
Comparable Store Sales         $   30.9              8.4  %       $  (88.5)           (19.9) %       $  186.9             17.6  %       $  (397.7)      

(28.0)%



Consistent with prior years and further exacerbated by some delayed start dates,
the Spring Rush period extended beyond the quarter into the fourth quarter.
Factoring in the fiscal month of February into the third quarter, which includes
rental deferred revenue for our First Day programs, Retail gross comparable
store sales increased by approximately 18.8%.

Wholesale


Wholesale sales decreased by $2.4 million, or 6.1% to $37.0 million during the
13 weeks ended January 29, 2022 from $39.5 million during the 13 weeks ended
January 30, 2021. Wholesale sales decreased by $53.0 million, or 33.9% to $103.2
million during the 39 weeks ended January 29, 2022 from $156.1 million during
the 39 weeks ended January 30, 2021. The decrease is primarily due to lower
gross sales impacted by the COVID-19 pandemic, including supply constraints
resulting from the lack of on campus textbook buyback opportunities during the
prior fiscal year, a decrease in customer demand resulting from a shift in
buying patterns from physical textbooks to digital products, and lower demand
from other third-party clients, partially offset by lower returns and
allowances. During the prior year period, the Wholesale operations assumed
direct-to-student fulfillment of course material orders for the Retail Segment
campus bookstores that were not fully operational due to COVID-19 campus store
closures, whereas the sales shifted back to the physical bookstores in the
current period.

SSD

DSS total sales increased by $2.2 million, or 30.9% to $9.4 million during the
13 weeks ended January 29, 2022 from $7.2 million during the 13 weeks ended
January 30, 2021. DSS total sales increased by $7.0 million, or 36.7% to $26.0
million during the 39 weeks ended January 29, 2022 from $19.0 million during the
39 weeks ended January 30, 2021. Sales increased primarily due to an increase in
subscription sales.

Cost of sales and gross margin

Our cost of sales decreased as a percentage of sales to 78.4% in the 13 weeks ended January 29, 2022 vs. 82.8% in the 13 weeks ended
January 30, 2021. Our gross margin increased by $16.4 millioni.e. 23.2%, at
$87.0 millionor 21.6% of sales, in the 13 weeks ended January 29, 2022
from $70.6 millionor 17.2% of sales in the 13 weeks ended January 30, 2021.


Our cost of sales decreased as a percentage of sales to 77.0% during the 39
weeks ended January 29, 2022 compared to 82.1% during the 39 weeks ended
January 30, 2021. Our gross margin increased by $75.8 million, or 35.0%, to
$292.5 million, or 23.0% of sales, during the 39 weeks ended January 29, 2022
from $216.7 million, or 17.9% of sales during the 39 weeks ended January 30,
2021. During the 39 weeks ended January 29, 2022, we recognized a merchandise
inventory loss of $0.4 million in cost of goods sold in the Retail Segment
discussed below. For additional information, see Item 1. Financial Statements -
Note 2. Summary of Significant Accounting Policies - Merchandise Inventories.

Retail

The following table summarizes the cost of retail sales for the 13 and 39 week periods ended January 29, 2022 and January 30, 2021:

                                                             13 weeks ended                                                                          39 weeks ended
                             January 29,              % of               January 30,              % of               January 29,              % of               January 30,              % of
Dollars in thousands            2022              Related Sales             2021              Related Sales             2022              Related Sales             2021              Related Sales
Product and other cost of
sales                       $  287,435                82.2%             $  308,752                88.3%             $  894,936                80.9%             $  897,283                87.1%
Rental cost of sales            18,144                72.3%                 25,394                66.6%                 53,096                60.5%                 60,506                65.4%
Total Cost of Sales         $  305,579                81.5%             $  334,146                86.2%             $  948,032                79.4%             $  957,789                85.3%


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The following table summarizes the retailers gross margin for the 13 and 39 week periods ended January 29, 2022 and January 30, 2021:

                                                                13 weeks ended                                                                          39 weeks ended
                                January 29,              % of               January 30,              % of               January 29,              % of               January 30,              % of
Dollars in thousands               2022              Related Sales             2021              Related Sales             2022              Related Sales             2021              Related Sales
Product and other gross margin $   62,220                17.8%             $   40,806                11.7%             $  211,468                19.1%             $  133,108                12.9%
Rental gross margin                 6,941                27.7%                 12,717                33.4%                 34,661                39.5%                 32,062                34.6%
Gross Margin                   $   69,161                18.5%             $   53,523                13.8%             $  246,129                20.6%             $  165,170                14.7%

For the 13 weeks completed January 29, 2022retail gross margin as a percentage of sales increased as shown below:


•Product and other gross margin increased (610 basis points), driven primarily
by a favorable sales mix (450 basis points) due to higher general merchandise
sales, higher margin rates (295 basis points) due to lower inventory reserves
and lower markdowns, partially offset by higher contract costs as a percentage
of sales related to our college and university contracts (135 basis points)
resulting from contract renewals and new store contracts.

•Rental gross margin decreased (570 basis points), driven primarily by lower
rental margin rates (1,380 basis points) and unfavorable rental mix (275 basis
points), partially offset by lower contract costs as a percentage of sales
related to our college and university contracts (1,080 basis points).

For the 39 weeks completed January 29, 2022retail gross margin as a percentage of sales increased as shown below:


•Product and other gross margin increased (620 basis points), driven primarily
by a favorable sales mix (465 basis points) due to higher general merchandise
sales, higher margin rates (200 basis points) due to lower inventory reserves
and lower markdowns, partially offset by higher contract costs as a percentage
of sales related to our college and university contracts (40 basis points)
resulting from contract renewals and new store contracts and an inventory
merchandise loss of $0.4 million (5 basis points) related to the final sale of
our logo and emblematic general merchandise inventory below cost to FLC.

•Rental gross margin increased (490 basis points), driven primarily by lower
contract costs as a percentage of sales related to our college and university
contracts (685 basis points) and a favorable rental mix (45 basis points),
partially offset by lower rental margin rates (240 basis points).

Wholesale


The cost of sales and gross margin for Wholesale were $28.9 million, or 78.1% of
sales, and $8.1 million, or 21.9% of sales, respectively, during the 13 weeks
ended January 29, 2022. The cost of sales and gross margin for Wholesale was
$28.8 million or 73.0% of sales and $10.7 million or 27.0% of sales,
respectively, during the 13 weeks ended January 30, 2021.

The cost of sales and gross margin for Wholesale were $79.1 million, or 76.6% of
sales, and $24.1 million, or 23.4% of sales, respectively, during the 39 weeks
ended January 29, 2022. The cost of sales and gross margin for Wholesale was
$118.0 million or 75.6% of sales and $38.1 million or 24.4% of sales,
respectively, during the 39 weeks ended January 30, 2021.

Gross margin rate decreased during the 13 and 39 week periods ended January 29, 2022 primarily due to the unfavorable impact of returns and discounts and higher markdowns, partially offset by a favorable sales mix.

SSD


The gross margin for the DSS segment was $7.9 million, or 84.1% of sales, during
the 13 weeks ended January 29, 2022 and $5.9 million, or 81.6% of sales, during
the 13 weeks ended January 30, 2021. The gross margin for the DSS segment was
$21.9 million, or 84.1% of sales, during the 39 weeks ended January 29, 2022 and
$15.3 million, or 80.4% of sales, during the 39 weeks ended January 30, 2021.
The high gross margins are driven primarily by high margin subscription service
revenue earned.

Intercompany Eliminations

During the 13 weeks ended January 29, 2022 and January 30, 2021, our sales
eliminations were $(18.4) million and $(22.7) million, respectively. During the
39 weeks ended January 29, 2022 and January 30, 2021, our sales eliminations
were $(52.8) million and $(87.0) million, respectively. These sales eliminations
represent the elimination of Wholesale sales and fulfillment service fees to
Retail and the elimination of Retail commissions earned from Wholesale.

During the 13 weeks ended January 29, 2022 and January 30, 2021, the cost of
sales eliminations were $(20.2) million and $(23.3) million, respectively.
During the 39 weeks ended January 29, 2022 and January 30, 2021, the cost of
sales eliminations were $(53.2) million and $(85.2) million, respectively. These
cost of sales eliminations represent (i) the recognition of
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intercompany profit for Retail inventory that was purchased from Wholesale in a
prior period that was subsequently sold to external customers during the current
period and the elimination of Wholesale service fees charged for fulfillment of
inventory for virtual store sales, net of (ii) the elimination of intercompany
profit for Wholesale inventory purchases by Retail that remain in ending
inventory at the end of the current period.

During the 13 weeks ended January 29, 2022 and January 30, 2021, the gross
margin eliminations were $1.8 million and $0.5 million, respectively. During the
39 weeks ended January 29, 2022 and January 30, 2021, the gross margin
eliminations were $0.4 million and $(1.8) million, respectively. The gross
margin eliminations reflect the net impact of the sales eliminations and cost of
sales eliminations during the above mentioned reporting periods.

Selling and administrative expenses

                                                     13 weeks ended                                                           39 weeks ended
                            January 29,           % of          January 30,           % of           January 29,           % of           January 30,           % of
Dollars in thousands           2022              Sales              2021             Sales              2022              Sales              2021              Sales
Total Selling and
Administrative Expenses    $  101,460            25.2%          $  92,708            22.5%          $  295,597            23.3%          $  254,723     

21.0%



During the 13 weeks ended January 29, 2022, selling and administrative expenses
increased by $8.8 million, or 9.4%, to $101.5 million from $92.7 million during
the 13 weeks ended January 30, 2021. During the 39 weeks ended January 29, 2022,
selling and administrative expenses increased by $40.9 million, or 16.0%, to
$295.6 million from $254.7 million during the 39 weeks ended January 30, 2021.
The variances by segment are discussed by segment below.

The increase in selling and administrative expenses is primarily related to the
impact from re-opening stores that had temporarily closed due to the COVID-19
pandemic in the prior year. Additionally, during the 13 and 39 weeks ended
January 29, 2022, long-term incentive compensation expense decreased by $0.6
million and increased by $4.0 million, respectively, primarily related to
cash-settled phantom share unit awards which are remeasured at the end of each
reporting period to reflect current assumptions, including changes in the our
common stock price.

Retail

During the 13 weeks ended January 29, 2022, Retail selling and administrative
expenses increased by $8.7 million, or 11.5%, to $84.6 million from $75.9
million during the 13 weeks ended January 30, 2021. This increase was primarily
due to a $7.4 million increase in stores payroll and operating expenses
including comparable stores, virtual stores and new/closed stores payroll and
operating expenses, and a $1.3 million increase in corporate payroll,
infrastructure and product development costs. The payroll increase is primarily
related to the impact from re-opening stores that had temporarily closed due to
the COVID-19 pandemic in the prior year.

During the 39 weeks ended January 29, 2022, Retail selling and administrative
expenses increased by $32.2 million, or 15.3%, to $242.5 million from $210.3
million during the 39 weeks ended January 30, 2021. This increase was primarily
due to a $29.8 million increase in stores payroll and operating expenses
including comparable stores, virtual stores and new/closed stores payroll and
operating expenses, a $0.9 million increase in incentive plan compensation
expense related to phantom share awards as discussed above, and a $1.5 million
increase in corporate payroll, infrastructure and product development costs. The
payroll increase is primarily related to the impact from re-opening stores that
had temporarily closed due to the COVID-19 pandemic in the prior year.

Wholesale


Wholesale selling and administrative expenses decreased by $0.4 million, or
9.1%, to $3.9 million from $4.3 million during the 13 weeks ended January 30,
2021, primarily driven by lower payroll and operating costs. Wholesale selling
and administrative expenses remained flat at $12.3 million for both the 39 weeks
ended January 29, 2022 and January 30, 2021, as lower payroll and operating
costs were offset by higher incentive plan compensation expense related to
phantom share awards, as discussed above.

SSD


During the 13 weeks ended January 29, 2022, DSS selling and administrative
expenses increased by $1.8 million, or 29.3%, to $7.8 million from $6.0 million
during the 13 weeks ended January 30, 2021. During the 39 weeks ended
January 29, 2022, DSS selling and administrative expenses increased by $6.5
million, or 43.0%, to $21.5 million from $15.0 million during the 39 weeks ended
January 30, 2021. The increase in costs was primarily driven by higher
compensation-related expense, higher operating costs invested in the business
associated with higher product development and sales costs aimed at increasing
revenue, and higher incentive plan compensation expense related to phantom share
awards, as discussed above.
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Corporate services


During the 13 weeks ended January 29, 2022, Corporate Services' selling and
administrative expenses decreased by $1.3 million, or 20.6%, to $5.2 million
during the 13 weeks ended January 29, 2022 from $6.5 million during the 13 weeks
ended January 30, 2021. The decrease was primarily due to lower
compensation-related expense of $1.5 million and lower incentive plan
compensation expense related to phantom share awards of $0.4 million, as
discussed above, partially offset by higher operating costs of $0.6 million.

During the 39 weeks ended January 29, 2022, Corporate Services' selling and
administrative expenses increased by $2.2 million, or 12.6%, to $19.4 million
from $17.2 million during the 39 weeks ended January 30, 2021. The increase was
primarily due to higher incentive plan compensation expense related to phantom
share awards of $2.6 million, as discussed above, and higher operating costs of
$1.1 million, partially offset by lower compensation-related expense of $1.5
million.

Depreciation expense

                                                   13 weeks ended                                                          39 weeks ended
                          January 29,           % of          January 30,           % of          January 29,           % of          January 30,           % of
Dollars in thousands          2022             Sales              2021             Sales              2022             Sales              2021             Sales
Total Depreciation and
Amortization Expense      $  12,179             3.0%          $  13,307             3.2%          $  36,755             2.9%          $  40,563             3.3%


Depreciation and amortization expense decreased by $1.1 million, or 8.5%, to
$12.2 million during the 13 weeks ended January 29, 2022 from $13.3 million
during the 13 weeks ended January 30, 2021. Depreciation and amortization
expense decreased by $3.8 million, or 9.4%, to $36.8 million during the 39 weeks
ended January 29, 2022 from $40.6 million during the 39 weeks ended January 30,
2021.The decrease was primarily attributable to lower depreciable assets and
intangibles due to the store impairment loss recognized during the third quarter
of Fiscal 2021.

Impairment Loss (non-cash)

We test our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC 360-10, Accounting for Impairment or disposal of long-lived assets.


During the 13 and 39 weeks ended January 29, 2022, we evaluated certain of our
store-level long-lived assets in the Retail segment for impairment. Based on the
results of the impairment tests, we recognized an impairment loss (non-cash) of
$6.4 million (both pre-tax and after-tax), comprised of $0.7 million, $1.8
million, $3.7 million and $0.2 million of property and equipment, operating
lease right-of-use assets, amortizable intangibles, and other noncurrent assets,
respectively, on the condensed consolidated statement of operations.

During the 13 and 39 weeks ended January 30, 2021, we evaluated certain of our
store-level long-lived assets in the Retail segment for impairment. Based on the
results of the impairment tests, we recognized an impairment loss (non-cash) of
$27.6 million ($20.5 million after-tax), comprised of $5.1 million, $13.3
million, $6.3 million and $2.9 million of property and equipment, operating
lease right-of-use assets, amortizable intangibles, and other noncurrent assets,
respectively, on the condensed consolidated statement of operations.

For more information, see Item 1. Financial statements – Note 2. Summary of significant accounting policies and Note 6. Fair value measurements.

Restructuring and other charges


During the 39 weeks ended January 29, 2022, we recognized restructuring and
other charges totaling $3.8 million, comprised primarily of $2.0 million for
severance and other employee termination and benefit costs associated with
elimination of various positions as part of cost reduction objectives and $1.8
million for costs associated with professional service costs for restructuring,
process improvements, development and integration associated with the FLC
Partnership, shareholder activist activities, and liabilities for a facility
closure.

During the 13 and 39 weeks ended January 30, 2021, we recognized restructuring
and other charges totaling $1.7 million and $10.7 million, respectively,
comprised primarily of $1.3 million and $5.8 million, respectively, for
severance and other employee termination and benefit costs associated with
elimination of various positions as part of cost reduction objectives, and $0.4
million and $4.9 million, respectively, for costs associated with professional
service costs for restructuring, process improvements, development and
integration associated with the FLC Partnership, shareholder activist
activities, and liabilities for a facility closure.
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Operating Loss

                                                       13 weeks ended                                                             39 weeks ended
                             January 29,           % of           January 30,           % of            January 29,           % of           January 30,            % of
Dollars in thousands            2022              Sales              2021               Sales              2022              Sales               2021              Sales
Total Operating Loss        $  (33,135)           (8.2)%         $  (64,702)           (15.6)%         $  (49,999)           (4.0)%         $  (116,884)           (9.6)%


Our operating loss was $(33.1) million during the 13 weeks ended January 29,
2022, compared to operating loss of $(64.7) million during the 13 weeks ended
January 30, 2021. The decrease in operating loss is due to the matters discussed
above. For the 13 weeks ended January 29, 2022, excluding the $6.4 million of
impairment loss (non-cash) discussed above, operating loss was $(26.7) million
(or (6.6)% of sales). For the 13 weeks ended January 30, 2021, excluding the
$27.6 million of impairment loss (non-cash) and the $1.7 million of
restructuring and other charges, discussed above, operating loss was $(35.4)
million (or (8.6)% of sales).

Our operating loss was $(50.0) million during the 39 weeks ended January 29,
2022, compared to an operating loss of $(116.9) million during the 39 weeks
ended January 30, 2021. The decrease in operating loss is due to the matters
discussed above. For the 39 weeks ended January 29, 2022, excluding the $0.4
million of merchandise inventory loss, $6.4 million of impairment loss
(non-cash), and the $3.8 million of restructuring and other charges discussed
above, operating loss was $(39.4) million (or (3.1)% of sales). For the 39 weeks
ended January 30, 2021, excluding the $27.6 million of impairment loss
(non-cash) and the $10.7 million of restructuring and other charges, discussed
above, operating loss was $(78.5) million (or (6.5)% of sales).

Interest Expense, Net

                                                        13 weeks ended                                        39 weeks ended
Dollars in thousands                      January 29, 2022           January 30, 2021           January 29, 2022           January 30, 2021
Interest Expense, Net                   $           3,051          $           2,311          $           7,809          $           5,876


Net interest expense increased by $0.7 million, or 32.0%, to $3.1 million during
the 13 weeks ended January 29, 2022 from $2.3 million during the 13 weeks ended
January 30, 2021. Net interest expense increased by $1.9 million, or 32.9%, to
$7.8 million during the 39 weeks ended January 29, 2022 from $5.9 million during
the 39 weeks ended January 30, 2021. The increase was primarily due to higher
borrowings compared to the prior year.

Income Tax Expense (Benefit)

                                                         13 weeks ended                                                                          39 weeks ended
                         January 29,                                 January 30,                                 January 29,                                 January 30,
Dollars in thousands        2022             Effective Rate             2021             Effective Rate             2022             Effective Rate             2021             Effective Rate
Income Tax Expense
(Benefit)               $      615               (1.7)%             $  (18,724)               27.9%             $      811               (1.4)%             $  (35,334)               28.8%


We recorded an income tax expense of $0.6 million on pre-tax loss of $(36.2)
million during the 13 weeks ended January 29, 2022, which represented an
effective income tax rate of (1.7)% and we recorded an income tax benefit of
$(18.7) million on a pre-tax loss of $(67.0) million during the 13 weeks ended
January 30, 2021, which represented an effective income tax rate of 27.9%.

We recorded income tax expense of $0.8 million on a pre-tax loss of $(57.8)
million during the 39 weeks ended January 29, 2022, which represented an
effective income tax rate of (1.4)% and we recorded an income tax benefit of
$(35.3) million on a pre-tax loss of $(122.8) million during the 39 weeks ended
January 30, 2021, which represented an effective income tax rate of 28.8%.

The effective tax rate for the 13 and 39 weeks ended January 29, 2022 is lower
as compared to the comparable prior year due to the assessment of the
realization of deferred tax assets and loss carrybacks recorded in the prior
year.
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Net Loss

                                                  13 weeks ended                            39 weeks ended
                                         January 29,          January 30,          January 29,          January 30,
Dollars in thousands                         2022                 2021                 2022                 2021
Net loss                                $   (36,801)         $   (48,289)         $   (58,619)         $   (87,426)


As a result of the factors discussed above, net loss was $(36.8) million during
the 13 weeks ended January 29, 2022, compared with net loss of $(48.3) million
during the 13 weeks ended January 30, 2021. As a result of the factors discussed
above, net loss was $(58.6) million during the 39 weeks ended January 29, 2022,
compared with net loss of $(87.4) million during the 39 weeks ended January 30,
2021.

Adjusted Earnings (non-GAAP) is $(28.9) million during the 13 weeks ended
January 29, 2022, compared with $(25.6) million during the 13 weeks ended
January 30, 2021. Adjusted Earnings (non-GAAP) is $(44.0) million during the 39
weeks ended January 29, 2022, compared with $(56.2) million during the 39 weeks
ended January 30, 2021. See Adjusted Earnings (non-GAAP) discussion below.

Use of Non-GAAP Measures – Adjusted Earnings, Adjusted EBITDA, Adjusted EBITDA by Segment and Free Cash Flow


To supplement our results prepared in accordance with generally accepted
accounting principles ("GAAP"), we use the measure of Adjusted Earnings,
Adjusted EBITDA, Adjusted EBITDA by Segment, and Free Cash Flow, which are
non-GAAP financial measures under Securities and Exchange Commission (the "SEC")
regulations. We define Adjusted Earnings as net income adjusted for certain
reconciling items that are subtracted from or added to net income (loss). We
define Adjusted EBITDA as net income (loss) plus (1) depreciation and
amortization; (2) interest expense and (3) income taxes, (4) as adjusted for
items that are subtracted from or added to net income (loss). We define Free
Cash Flow as Cash Flows from Operating Activities less capital expenditures,
cash interest and cash taxes.

To properly and prudently evaluate our business, we encourage you to review our
condensed consolidated financial statements included elsewhere in this Form
10-Q, the reconciliation of Adjusted Earnings to net income (loss), the
reconciliation of consolidated Adjusted EBITDA to consolidated net income
(loss), and the reconciliation of Adjusted EBITDA by Segment to net income
(loss) by segment, the most directly comparable financial measure presented in
accordance with GAAP, set forth in the tables below. All of the items included
in the reconciliations below are either (i) non-cash items or (ii) items that
management does not consider in assessing our on-going operating performance.

These non-GAAP financial measures are not intended as substitutes for and should
not be considered superior to measures of financial performance prepared in
accordance with GAAP. In addition, our use of these non-GAAP financial measures
may be different from similarly named measures used by other companies, limiting
their usefulness for comparison purposes.

We review these non-GAAP financial measures as internal measures to evaluate our
performance at a consolidated level and at a segment level and manage our
operations. We believe that these measures are useful performance measures which
are used by us to facilitate a comparison of our on-going operating performance
on a consistent basis from period-to-period. We believe that these non-GAAP
financial measures provide for a more complete understanding of factors and
trends affecting our business than measures under GAAP can provide alone, as
they exclude certain items that management believes do not reflect the ordinary
performance of our operations in a particular period. Our Board of Directors and
management also use Adjusted EBITDA and Adjusted EBITDA by Segment, at a
consolidated and at a segment level, as one of the primary methods for planning
and forecasting expected performance, for evaluating on a quarterly and annual
basis actual results against such expectations, and as a measure for performance
incentive plans. Management also uses Adjusted EBITDA by Segment to determine
segment capital allocations. We believe that the inclusion of Adjusted Earnings,
Adjusted EBITDA, and Adjusted EBITDA by Segment results provides investors
useful and important information regarding our operating results, in a manner
that is consistent with management's evaluation of business performance. We
believe that Free Cash Flow provides useful additional information concerning
cash flow available to meet future debt service obligations and working capital
requirements and assists investors in their understanding of our operating
profitability and liquidity as we manage the business to maximize margin and
cash flow.
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Contents

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Ten principles for embracing productive conflict (opinion) https://endgradeinflation.org/ten-principles-for-embracing-productive-conflict-opinion/ Mon, 07 Mar 2022 08:11:02 +0000 https://endgradeinflation.org/ten-principles-for-embracing-productive-conflict-opinion/ For over 20 years I have been teaching a college course on the science of well-being. When we talk about the psychology of courage, I start with just one question: Were the 9/11 hijackers brave? The conversation often gets heated. Some reflexive reactions emerge. Someone usually says something like “Absolutely not! They are cowards! This […]]]>

For over 20 years I have been teaching a college course on the science of well-being. When we talk about the psychology of courage, I start with just one question: Were the 9/11 hijackers brave?

The conversation often gets heated. Some reflexive reactions emerge. Someone usually says something like “Absolutely not! They are cowards! This year I had a student from the Middle East who took the risk of disagreeing with the rise of public sentiment in the classroom. She stressed the importance of gaining the perspective of terrorists, understanding their culture and belief system. In previous years, veterans enrolled in my class have explained that sometimes violence is necessary to protect your country.

Opinions about courage generate intense emotions. Conversations are difficult to moderate. It would be much easier if we just presented a PowerPoint slide with the common definition of courage. No conflicts. No improvised thinking. But we would do so at a price: we would have fewer opportunities for curiosity, intellectual humility and the exchange of points of view. We don’t want students to passively digest the definition of courage. We want them to think things through and be brave enough to share their thoughts, unvarnished and uncensored.

To understand the complexity of human behavior and society, we must accept difficult questions and respectfully consider alternative points of view. Worrying about whether you can ask questions and challenge the opinions of others is uneducated.

And we in higher education face many difficult questions and problems. There are racial issues. Studies show that teachers often label students who misbehave as troublemakers and discipline them more harshly if they are black than if they are white. For reasons beyond their control, black students are less likely to graduate from high school and enter and graduate from university compared to white students. Black instructors get a lot worst grades from anonymous students on the quality and credibility of education than white people.

There are social class issues. Students from lower socio-economic backgrounds lack cultural capital, insider knowledge of books they should have read, and social connections that allow entry into groups that offer greater opportunities. As such, their sense of incompetence tests their the energy to perform at high levels inside and outside the classroom.

Then there are the climate issues on campus. National surveys indicate an increase in the number of university students reluctant to share their opinions on controversial topics in the classroom. In an investigation run by the Heterodox Academy, three in five students said they had self-censored out of fear that “other students would criticize my opinions as offensive”, while one in three students feared that “the teacher would say that my opinions are wrong”. With a high level of liberal leanings among professors in traditional universities, some more conservative ideas seem to be, and often are, verboten. And while professors receive salaries to assess, teach and study complex societal issues, forms of censorship are common, including prohibiting them from testifying on the campus issue mask mandates and cancellation of conference appearances because, for example, they offer alternatives to existing race-based affirmative action policies.

Taboos at the Academy

The problems of the education system span the political spectrum. Given this wide range of issues, colleges and universities are experimenting with interventions — from anti-racism education to wellness initiatives to curtailing legacy, wealth-based, and athletic admissions. In fact, a few months ago a group of intellectuals announced the launch of a brand new university, the University of Austin, or UATX, supposedly to right some of those wrongs. They propose an experiment to produce an educational experience “fully committed to freedom of inquiry, freedom of conscience and civil discourse”.

The plan is to to be “fiercely independent”, both financially and politically – a university where controversial topics are open to reflection and evaluation of existing evidence. As colleges and universities grapple with a history of racial, class, and ideological discrimination, it helps to create an institution that adheres to such lofty commitments as exploring the nature of humanity, even if the results are uncomfortable.

Perhaps the biggest challenge to the University of Austin – or any educational experience – is the design of culture. How do we establish a culture that empowers and embraces minorities, whether defined by numbers, power, status, or demographics? How to protect dissent? How do you create a place where people can ask provocative questions without being overruled and others can respond with subsequent questions and concerns about the initial provocation?

What really determines whether freedom of inquiry exists in a university is how people react when the minority points out the dysfunctional beliefs and practices of the majority. When you create something from scratch like the University of Austin, you are no longer the alien raging against the machine. The institution becomes the machine. So you have to put in place protection mechanisms so that people can disagree with the institution. People are fallible, and so the institution you create will be too. Course corrections will be inevitable. Students, faculty and stakeholders must be empowered to initiate them.

A proposed charter of 10 university principles

As a long-time professor at George Mason University, I know of a number of issues with the current education system and have some personal thoughts on how to address them. I have developed a proposed charter for a university trying to do what UATX aspires to, consisting of 10 principles for higher education institutions interested in building academic, intellectual, and social communities. Principles are a set of rules or truths that stand the test of time. With clear principles, a university holds a beacon for making tough choices. Here are the ones I recommend.

  1. The principle of illusory danger. If you think of a question, you can ask it. The only dangerous question is the belief that dangerous questions exist.
  2. The principle of benevolent intention. Encourage others to talk by letting them know that you will work hard to respond with charity, curiosity, and the assumption of positive intent. When speaking, you should receive the same receptivity unless there is compelling evidence to suggest otherwise.
  3. The principle of sympathy. Reduce the impact of how much you like or dislike people when it comes to making judgments about the content of their posts and how you treat them. Know that sympathy is often unrelated to the legitimacy of ideas. We have to separate the message from the messenger.
  4. The principle of individual differences. Resist treating individuals as representatives of their groups. There is often more heterogeneity within groups than between groups.
  5. The principle of open-mindedness. Balance pressures for compliance with a willingness to explore alternative ideas and perspectives. Remember that being open and curious does not imply a commitment to change your point of view.
  6. The principle of wide diversity. Expand definitions of diversity to go beyond what is visible to include categories of class and socioeconomic status, adversity, neurodiversity, and individual differences in temperament and personality. Remember, there is no point in attracting diverse individuals unless you do the hard part of working with them, valuing and encouraging their uniqueness.
  7. The ad hominem principle. Resist the temptation to label people as simply “bad” or sexist, racist, homophobic, elitist, ideologue, snowflake or whatever. Instead, engage in the more nuanced task of battling against the quality of their ideas and solutions.
  8. The principle of independent thought. Be aware of the cognitive biases that afflict everyone, especially confirmation bias and motivated reasoning. Maintain the same standards of proof whether or not they agree with your original and preferred positions.
  9. The principle of behavioral evidence. Rely on the evidence as much as possible, even if it leads to answers that conflict with your assumptions and preferences.
  10. The principle of personal evolution. Each person must commit to learning and growing. It means being willing to let go of ideas that no longer work or that don’t survive empirical scrutiny.

We don’t know if the University of Austin experiment will adhere to the above principles. We can keep hope. Meanwhile, perhaps administrators at existing colleges and universities will read this list and conduct audits to determine how well they align their daily actions with these principles. Let’s produce educational environments that incubate future leaders who possess courage and flexibility, knowledge and creativity. The arc of human progress has always depended on those who make it.

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What makes Germany a popular choice among international students? https://endgradeinflation.org/what-makes-germany-a-popular-choice-among-international-students/ Thu, 03 Mar 2022 11:31:00 +0000 https://endgradeinflation.org/what-makes-germany-a-popular-choice-among-international-students/ Education abroad is a life-changing experience for learners as it involves travel, exposure to new cultures, values, art, history, people and way of life. Contrary to the popular perception that Indian students prefer to study in English-speaking destinations such as USA, Canada, UK and Australia; Germany continues to see a growing presence of Indian students. […]]]>
Education abroad is a life-changing experience for learners as it involves travel, exposure to new cultures, values, art, history, people and way of life. Contrary to the popular perception that Indian students prefer to study in English-speaking destinations such as USA, Canada, UK and Australia; Germany continues to see a growing presence of Indian students. According to MEA data, around 21,000 Indian students study in Germany. This begs the question: what makes Germany an attractive destination for Indian students?

Are you eligible to stay in Germany after graduation?
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For those who are discouraged by the lack of scholarships, reluctance to bear heavy student loans or tuition fees, it is wiser to choose a country that offers good quality education at a lower price, with many job opportunities. This is where a country like Germany has been able to offer the best education in all disciplines. According to UNESCO’s Global Education Monitoring Report 2020, Germany was grouped into the second cohort of host countries that each accepted between 300,000 and 499,999 students in 2020. This statistic speaks to the popularity growth of Germany as a destination for university education abroad. .

Free or low-cost education and emphasis on hands-on pedagogy

Germans do not believe in making education exclusive and believe that free education is a basic human right. The country believes that this, in turn, helps the nation’s economy and well-being. As a result, public educational institutions do not charge tuition fees, a benefit also extended to international students. However, students are required to pay between €100 and €350 as a semester contribution.

Also, German universities emphasize a practice-oriented approach to complement university education, which adds to its popularity among learners around the world, who seek outcome-oriented learning. As a result, universities partner with companies to ensure that students acquire theoretical and practical knowledge throughout the course. This ensures that students graduate with the skills and theoretical know-how that make them highly employable and ready to solve real-world problems.

Besides public universities, private universities in Germany maintain an equally competent academic environment, with English as the language of instruction at a competitive price for international students.

English as the language of instruction

Indian learners who might not be comfortable with the idea of ​​studying a course where the language of instruction is German can also continue their studies in the country as several universities offer courses in English. Of the nearly 2,000 programs in the German Academic Exchange Service (DAAD) database, 1,389 are taught in English.

Subjects taught in English include social sciences, engineering, natural sciences, law, economics and mathematics. However, keep in mind that you might struggle to find courses in English for the following subjects: Veterinary Medicine, Art and Art Theory, Cultural and Linguistic Studies, Sports and Medicine. Additionally, opportunities to study in English at the undergraduate level are very limited, so those who are not fluent in German should consider completing their higher education in the country.

To ensure students’ proficiency in English, universities ask for IELTS and TOEFL scores during the admissions process. However, one can also find private universities that waive the TOEFL/IELTS requirement, making it easier for international students to gain admission.

Scholarships and part-time jobs

Germany offers the cheapest courses in Europe and offers a range of scholarships for international students. Some of the scholarships funded by private and government authorities include Mawista Scholarship, Einstein International Postdoctoral Fellowship, Konrad-Adenauer-Stiftung (KAS) Scholarships, Heinrich Böll Scholarships for International Students, Erasmus+ and DAAD Scholarships.

Additionally, the country has policies in place that support international students to work part-time to help cover the cost of living in the country. However, learners must comply with part-time work regulations and need a work permit. They cannot be self-employed or self-employed under the guise of part-time work and can work 120 full days or 240 half-days in a single year. However, learners have the option of working longer if the unemployment rate in the region where they are studying is high. Learners can also work during university vacations, but only during non-course periods.

Getting a job at university is ideal for international students because the salary is higher and they can work longer hours, close to their university institution.

Low cost of living

Apart from the various other advantages, Germany is desirable due to relatively lower cost of living. International learners must pay between 75 euros for a student visa. Prospective students will need to create a German escrow account with a balance of 10,332 Euros per year, from which they can withdraw INR 861 Euros on a monthly basis. Of these monthly expenses, a profitable rent represents 250 to 350 euros per month. In addition, learners will have to take out a health insurance policy of around 100 to 150 euros. In addition, daily needs require a budget of 100 euros per month.

Fourth largest economy in the world and job opportunities after college

As the fourth largest economy in the world and the largest economy in Europe, Germany is the third largest importer of goods and the third largest exporter. The top ten exporting industries include vehicles, rubber and plastics, food products, basic metals, transport equipment, pharmaceuticals, electrical equipment, electronics, chemicals and machinery. These and other industries provide many opportunities for students seeking employment after graduation. The German economy, classified as a social market economy, exhibits higher levels of innovation and lower levels of corruption and is home to a highly skilled workforce.

As long as Indian learners are well prepared and have all the necessary documents, they don’t have to worry about being rejected when applying for a student visa to study in Germany. Another alternative is to apply for a “candidate student” visa which allows prospective students to stay in the country for three months so that they can search for the right university while living in Germany. At the end of the course, international students can extend their residence permit and look for work for 18 months after graduation, provided that the job they are looking for is related to the subjects they have studied during the lesson. Those who have worked in Germany for two years can apply for permanent residence.

Conclusion

In conclusion, Germany stands as a promising place for education abroad in terms of quality provision at an affordable price due to free public education, low cost of living and availability scholarships. The government has made arrangements to facilitate part-time work and universities offer practice-oriented training. Finally, as Germany is one of the most advanced economies in the world, students can take comfort in knowing that one can also land a job after graduation.

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Purdue joins elite list of top-producing Fulbright institutions https://endgradeinflation.org/purdue-joins-elite-list-of-top-producing-fulbright-institutions/ Tue, 01 Mar 2022 23:10:37 +0000 https://endgradeinflation.org/purdue-joins-elite-list-of-top-producing-fulbright-institutions/ WEST LAFAYETTE, Ind. – Purdue University has been included in the prestigious list of US colleges and universities selected as one of the top producing institutions of the Fulbright US Scholar Program for 2021-2022. Each year, the United States Department of State’s Bureau of Educational and Cultural Affairs (ECA) announces the the best producing institutions […]]]>

WEST LAFAYETTE, Ind. – Purdue University has been included in the prestigious list of US colleges and universities selected as one of the top producing institutions of the Fulbright US Scholar Program for 2021-2022.

Each year, the United States Department of State’s Bureau of Educational and Cultural Affairs (ECA) announces the the best producing institutions for the Fulbright program, the federal government’s flagship international educational exchange program. Purdue is tied for third in the nation in the “research institution” competition for university awards, making it one of the nation’s top producers for 2021-22.

The university is one of 18 research institutions to be named. The Chronicle of Higher Education publishes the lists annually.

“We couldn’t be prouder because each year more of our faculty members have been chosen to be part of this prestigious and widely recognized international program,” said Jay Akridge, Provost and Executive Vice President for Academic Affairs. and diversity. “Participating in the Fulbright program can literally be a career-changing experience. We hope to remain among the most productive institutions for faculty Fulbright scholars for many years to come.

In 2020, six Purdue faculty members were named 2020-2021 Fulbright Fellows for their projects, which were chosen because they demonstrated advances in health sciences and social welfare. Specifically, improving treatments for Alzheimer’s disease, understanding how traumatic brain injury can lead to heart dysfunction, and advancing K-12 STEM education are just a few. subjects that constituted the research projects of these faculties. For the 2021-2022 competition, eight Purdue professors have been shortlisted for a Fulbright Scholar Award.

Christopher J. Lukasik, Provost Member, Fulbright Faculty Award; and Associate Professor of English and American Studies, said, “Fulbright recipients often describe their experiences as life-changing, and their expanded worldview makes them better informed to talk about global issues upon their return to the United States. . Fulbright professors are exceptionally well-prepared to speak to students who are not only entering a global economy, but who belong to a generation facing a range of challenges – on a global scale – such as climate change or Food Safety.

The deadline for this year’s Fulbright US Scholar Award is September 15. For more information about the Fulbright Faculty Award program, contact Lukasik at clukasik@purdue.edu.

The Fulbright Program was established more than 75 years ago to increase mutual understanding between American citizens and those of other countries. Fulbright is the largest and most diverse international educational exchange program in the world. Its main source of funding is an annual congressional appropriation to the Bureau of Educational and Cultural Affairs of the U.S. Department of State.

Fulbright is active in more than 160 countries and partners with participating governments, host institutions, corporations, and foundations in foreign countries and the United States. Many of these organizations also provide direct and indirect support. ECA sponsors the Fulbright program and several nonprofit cooperative partners implement and support the program on its behalf. For more information on the Fulbright program, visit eca.state.gov/fulbright.

About Purdue University

Purdue University is a leading public research institution that develops practical solutions to today’s toughest challenges. Ranked in each of the past four years as one of the 10 most innovative universities in the United States by US News & World Report, Purdue delivers groundbreaking research and groundbreaking discoveries. Committed to hands-on, online, real-world learning, Purdue provides transformative education for all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, allowing more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap to https://stories.purdue.edu

Writer: Margaret Mower

Media contact: Amy Patterson Neubert, apatterson@purdue.edu

Source: Christopher Lukasik, clukasik@purdue.edu

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Prof. Bhushan Patwardhan appointed as NAAC President https://endgradeinflation.org/prof-bhushan-patwardhan-appointed-as-naac-president/ Sat, 26 Feb 2022 15:23:26 +0000 https://endgradeinflation.org/prof-bhushan-patwardhan-appointed-as-naac-president/ PUNE The University Grants Commission (UGC) has appointed Professor Bhushan Patwardhan, Pedagogue and Research Scientist, as Chairman of the Executive Committee of the National Assessment and Accreditation Council (NAAC), Bangalore. The position was vacant after Prof. Jagadish Kumar was appointed President of UGC. NAAC is an autonomous body established by UGC on September 5, 1994, […]]]>

PUNE The University Grants Commission (UGC) has appointed Professor Bhushan Patwardhan, Pedagogue and Research Scientist, as Chairman of the Executive Committee of the National Assessment and Accreditation Council (NAAC), Bangalore.

The position was vacant after Prof. Jagadish Kumar was appointed President of UGC.

NAAC is an autonomous body established by UGC on September 5, 1994, with Prof. Ram Reddy as founding president and Prof. Arun Nigavekar as first director.

“I am grateful to UGC for providing me with this opportunity. My efforts will be to facilitate ongoing activities and support the NAAC team to accelerate their alignment with UGC’s quality mandate and key recommendations of National Education Policy 2020,” said Professor Patwardhan, who was Vice President of UGC until March 2021.

The NAAC undertakes the assessment and accreditation of institutions of higher education (HEIs) such as colleges, universities, or other recognized institutions to assess the quality status of these institutions. NAAC ratings are based on predefined quality and performance evaluation criteria indicating Very Good (A), Good (B), Satisfactory (C) and Unsatisfactory (D) levels respectively.

NAAC accreditation is a globally accepted indicator of the institution’s credibility and quality and impacts academic, financial, and perceptual benefits.

Professor Patwardhan is currently a National Research Professor Designated by the Ministry of Ayush, Government of India, and Distinguished Professor at the Interdisciplinary School of Health Sciences, Savitribai Phule Pune University (SPPU).

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