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Barnes & Noble (likely) to close stores in 2010

Old 01-28-13, 04:23 PM
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Re: Barnes & Noble (likely) to close stores in 2010

http://www.huffingtonpost.com/2013/0...n_2566386.html

Barnes & Noble Closures: 100s Of Stores To Go According To Top Executive

Posted: 01/28/2013 9:28 am EST | Updated: 01/28/2013 3:06 pm EST

Barnes & Noble's top store executive Mitchell Klipper has told the Wall Street Journal (subscription required) that the company plans the closure of at least 20 stores a year for the next decade.

Since 2003, the company has shut an average of 15 stores a year - but it also opened more than 30 per year, according to the Journal. During the last fiscal year, however, the company closed 14 stores and didn't open any. This year, a prominent Manhattan store has already shut its doors.

Without any new openings, that rate of closure would reduce the total number of Barnes & Noble's stores by a third - it currently has 689 retail stores, and 674 college stores. Their first store opened in New York City in 1917, and since the closing of Borders in 2011, it is by far the nation's largest book retailer chain.

Store revenue over the recent holiday period was down 11% on the previous year, however the company still made $317 million in earnings last year, more than enough, according to Klipper, to offset losses from the Nook ereader section of the company, which spends heavily on advertising and new technology.

Almost exactly a year ago, the WSJ ran an article questioning if the Nook part of the business was to be split off into its own company, though so far this hasn't occurred, and in April 2012, Microsoft invested $300 million in a new Nook subsidiary.

Print book sales nationwide dropped 22% over the past five years according to Nielsen BookScan, as ebooks and other digital devices have become more popular. Where that leaves the retail side of Barnes & Noble's business in the medium term is unclear.

According to the Journal,
Barnes & Noble has 442 leases up for renewal by April 30, 2016, representing substantially more than half of its stores. Mr. Klipper said he expects many will be renewed: "Why close them if they are making money?"
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Old 01-28-13, 05:21 PM
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Re: Barnes & Noble (likely) to close stores in 2010

What happens to the Nook if Barnes & Nobles shits the bed?

Will they be bricked? Will Amazon buy them and fold them into Kindle accounts? Or will Nook be spun off into its own company?
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Old 01-29-13, 08:07 AM
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Re: Barnes & Noble (likely) to close stores in 2010

Originally Posted by Josh-da-man View Post
What happens to the Nook if Barnes & Nobles shits the bed?

Will they be bricked? Will Amazon buy them and fold them into Kindle accounts? Or will Nook be spun off into its own company?
That already happened. Microsoft put up some cash, so it's unlikely Amazon would be involved with trying to buy them: http://mashable.com/2012/04/30/barnes-noble-microsoft/
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Old 02-20-13, 06:47 PM
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Re: Barnes & Noble (likely) to close stores in 2010

This is really sad to me. It's like we're becoming a third-world country. One of my absolute favorite pastimes is grabbing a cup of coffee and wandering around a bookstore. Five years ago, there were great choices everywhere, now Barnes & Noble is literally the only bookstore standing anywhere around me (and I live L.A. not a little town). The thought of raising my kids in a community with no bookstores is utterly depressing. Clicking around Amazon is not the same thing as discovering things on a shelf that you weren't looking for and holding them in your hands, and sipping your coffee and smiling at a pretty stranger.
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Old 02-20-13, 08:14 PM
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Re: Barnes & Noble (likely) to close stores in 2010

There's no reason for a company to stay in business that overcharges for books and videos compared to all other places.
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Old 02-21-13, 01:22 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Originally Posted by toddly6666 View Post
There's no reason for a company to stay in business that overcharges for books and videos compared to all other places.
Compared to internet stores that have no physical presence, employ very few people, and largely avoid sales taxes. That's like comparing a restaurant to Costco. The benefit of a bookstore is much more than just the book you take home. It's a place to go to get out of the house that isn't work or a restaurant that requires you to sit, eat, and leave with the party you came with. If it has a cafe in it, it's a place to meet up with people. It's a place to take your kids. It's a place to browse when waiting for your movie time next door, or a long restaurant wait. It makes a neighborhood or a retail area come alive. A city is a pretty desolate place without them.
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Old 02-21-13, 03:35 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Originally Posted by lamphorn View Post
Compared to internet stores that have no physical presence, employ very few people, and largely avoid sales taxes. That's like comparing a restaurant to Costco. The benefit of a bookstore is much more than just the book you take home. It's a place to go to get out of the house that isn't work or a restaurant that requires you to sit, eat, and leave with the party you came with. If it has a cafe in it, it's a place to meet up with people. It's a place to take your kids. It's a place to browse when waiting for your movie time next door, or a long restaurant wait. It makes a neighborhood or a retail area come alive. A city is a pretty desolate place without them.
Thats all well and good, but that dose not sound like a good business plan. "come read our books for free, look around while your waiting for something else, then go buy it when you get home, and please while you have nothing else to do just loiter we dont mind."
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Old 02-21-13, 05:45 PM
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Re: Barnes & Noble (likely) to close stores in 2010

B&N seems like they have awful leadership. They drove me out of the stores because it is like a library now with people just hanging out there all day reading stuff for free. The rewards club is not good and in no way entices me to go to the store rather than Amazon. I have had nightmare problems with online orders. To top it off they were one of the last to come to the digital book party. Though the Nook seems pretty cool, I would be afraid to buy it and then have B&N go under and be left with the Betamax of e-readers.
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Old 07-08-15, 12:10 PM
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Re: Barnes & Noble (likely) to close stores in 2010

I would probably buy more from B&N.But....
I paid for a membership again almost A year ago to this day.I will not be renewing again after not being A member for 6+ years before this membership.

They are doom to fail sooner or latter.The Criterion sales is the only reason many others and me still buy from them.

Took them almost A year to connect my current email with my account.lol sad but true.
oh and the change of address for coupons never happened.I received two coupon books at my PO
box up in Oregon. 90 day purchase history to short.
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Old 01-14-16, 01:51 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Screw Barnes & Noble. They are way overpriced & don't have that much of a selection of older books. I rarely go to the store anyway, and I hate the fact that they're the only "chain" bookstore in my area. I also have Half Priced Books, but they don't have many newer books.

I strongly preferred Borders - their prices & selection were better, and they typically had sales as well.

Originally Posted by RonG617 View Post
I have had nightmare problems with online orders.
Good to know - Thanks. I considered ordering something from B & N online, but after reading your post won't do so. I don't need any problems with my shipment.

Last edited by TheDude; 01-14-16 at 01:58 PM.
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Old 01-15-16, 08:57 AM
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Re: Barnes & Noble (likely) to close stores in 2010

I ordered an audio book from them online before Christmas and had no problems.
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Old 07-14-16, 03:48 AM
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Re: Barnes & Noble (likely) to close stores in 2010

Barnes & Noble to unveil new stores selling beer and wine
I'm all for it keeps B&N around longer for their Criterion Collection sales.

http://article.wn.com/view/2016/06/2...r_and_wine_pc/

Barnes & Noble is turning to an age-old partnership to help it revive its business: literature and alcohol. The New York bookseller says it is opening four "concept" stores in the next year that will feature restaurants with an expanded menu including beer and wine. The first concept store will open in Eastchester, New York, in October, followed by locations in Edina, Minnesota; Folsom, California, and Loudon, Virginia. The company said Thursday that it had named its chief operating officer, Jaime Carey, to head a newly created restaurant division. Barnes & Noble on Wednesday reported lower total sales and lower sales in established locations in its most recent quarter. Read more on Colorado Springs Gazette ...
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Old 07-14-16, 11:38 AM
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Re: Barnes & Noble (likely) to close stores in 2010

They need to have at least somewhat more competitive pricing, and not put their huge-ass stickers on discs that come with unsealed slipcovers.
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Old 07-14-16, 04:33 PM
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Re: Barnes & Noble (likely) to close stores in 2010

I wonder if Barnes and Noble business has picked up since this thread was originally posted - I feel like I see a lot more people at the stores by me, and the shift to large sections of pop culture stuff seem to have helped a lot.
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Old 07-04-18, 05:30 PM
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Re: Barnes & Noble (likely) to close stores in 2010

lazy time.hint i only have one hand free
Spoiler:
the other is on a mouse


Barnes & Noble Fires C.E.O. Without Severance but Doesn’t Explain Why

It sounds like they threw the book at him ...

I wonder what the next chapter will be for Barnes and Noble ...

In all seriousness though this is pretty unusual to fire a CEO without stating the reason no ?

—-
Barnes & Noble fired its chief executive, Demos Parneros, for violating the company’s policies, the company said on Tuesday without specifying the policies.

Mr. Parneros was not terminated because of “any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto,” Barnes & Noble said in a statement.


https://mobile.nytimes.com/2018/07/0...ceo-fired.html

It could be because that they are about to go under. Stocks are taking a nose dive and I can't think of another book analogy since the Guardian said it could be their final chapter.
https://www.theguardian.com/books/20...-retail-amazon
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Old 07-05-18, 10:09 AM
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Re: Barnes & Noble (likely) to close stores in 2010

Originally Posted by JoeySeven View Post
lazy time.hint i only have one hand free
Spoiler:
the other is on a mouse


Barnes & Noble Fires C.E.O. Without Severance but Doesn’t Explain Why

It sounds like they threw the book at him ...

I wonder what the next chapter will be for Barnes and Noble ...

In all seriousness though this is pretty unusual to fire a CEO without stating the reason no ?

—-
Barnes & Noble fired its chief executive, Demos Parneros, for violating the company’s policies, the company said on Tuesday without specifying the policies.

Mr. Parneros was not terminated because of “any disagreement with the company regarding its financial reporting, policies or practices or any potential fraud relating thereto,” Barnes & Noble said in a statement.


https://mobile.nytimes.com/2018/07/0...ceo-fired.html



https://www.theguardian.com/books/20...-retail-amazon
All,

Seems like short-hand for saying the CEO was terminated for non-financial reasons ... such as his small brain winning over his big brain #metoo ... or the like.

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Old 07-05-18, 07:52 PM
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Re: Barnes & Noble (likely) to close stores in 2010

What happens to B&N now will be remaindered to be seen.
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Old 09-03-18, 12:22 PM
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Re: Barnes & Noble (likely) to close stores in 2010

If B&N files for bankruptcy and the creditors decide to liquidate, wonder who will buy up the assets such as the website, etc ...

IIRC, B&N bought up the old Borders website and customer information database after Borders went through the bankruptcy liquidation in 2011.

https://www.reuters.com/article/us-b...78P5US20110926
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Old 09-03-18, 12:31 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Originally Posted by ctyankee View Post
... such as his small brain winning over his big brain #metoo ... or the like.
https://www.nytimes.com/2018/08/28/b...t-lawsuit.html

https://abcnews.go.com/Business/curi...ry?id=57475630
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Old 09-03-18, 02:11 PM
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Re: Barnes & Noble (likely) to close stores in 2010

I'd really hate to see B&N go tits up like Borders and Toys R Us.

The last B&N where I live is always full of people, but most of them seem to be sitting in there reading or using their computers in the Starbucks cafe. There are, like, thirty tables in there and they're almost always full, with people sitting there with laptops.

Which is kind of weird because their WiFi sucks; it's not that fast to begin with, and by the time you split it over dozens of users, it might as well be dial-up. I can go to a McDonalds a couple of blocks away and get 25 Mbps.

They usually have three or four cashiers, and I rarely have more than two or three people ahead of me in line when I'm making a purchase.
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Old 09-04-18, 09:37 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Something that hasn't been talked here is that about a little over a year ago, B&N fired their longer tenured employees, including the managers, as a cost cutting measure. They kept employees who have at most 3 years of experience and some regional managers to replace store managers. A couple of friends of mine who had been with the company for over 15 years were let go with a nice severance package due to this budget cuts.

B&N has the same issues as many other mall retailers: they never adjusted to the ever-changing landscape of business. There's no reason why B&N couldn't had turned their business into another Amazon. Instead of competing with Amazon, B&N powers that be decided to stay doing business in the same manner as before, not discounting their over-priced book/music/movie selection, putting out the Nook, a pale e-reader compared to today's tablets, and didn't evolve into the 20th century by putting out a better, more competent website. They even made it worse by limiting their use of coupons. Why will anyone buy anything at B&N when they can get the same item for cheaper at Amazon, Wal-Mart, Target and even Best Buy?
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Old 09-05-18, 05:25 AM
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Re: Barnes & Noble (likely) to close stores in 2010

^ Their prices are what keeps me from buying their stuff. I can always find it cheaper elsewhere.
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Old 10-03-18, 10:57 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Barnes & Noble hangs up "for sale" sign

https://www.cbsnews.com/news/barnes-...inkId=57708637


Barnes & Noble is hoping for a storybook ending. The ailing bookseller said Wednesday that it's exploring strategic alternatives, including a possible sale of the company.

One possible buyer: Barnes & Noble founder and Chairman Leonard Riggio, the company said in a news release, while noting that "multiple parties" had expressed interest in bidding for the company.

Barnes & Noble, which is publicly listed, is the nation's largest retail book vendor, operating 629 stores across the U.S. It also operates Nook, a digital bookstore, as well as the website barnesandnoble.com.

The company's board has set up a committee of independent directors to oversee the strategic review. Riggio, who owns 19 percent of the company and is its largest shareholder, has pledged to back any transaction the panel recommends.

Barnes & Noble shares, which before news of the possible sale were down 30 percent for the past year, vaulted 21 percent in Wednesday's after-hours trading to $6.64. In announcing that it's weighing a possible sale, the company noted that an unknown investor has been rapidly acquiring its stock.

Annual revenue, which topped $7 billion in 2012, has since fallen to $3.7 billion amid ferocious competition from Amazon and other e-commerce companies. In September, Barnes & Noble reported quarterly revenue of $795 million, down nearly 7 percent from a year ago, as store sales continued to sink. It lost $17 million for the period.

Once demonized for killing off local bookstores with its superstores, Barnes & Noble has been struggling in recent years with competition from Amazon and changing consumer preferences.

"If they can pull something out to save the company that would be great, but they have a real uphill climb," said Craig Johnson, president of Customer Growth Partners. "They've hung in there despite Amazon and all the rest of it. But the bookstore that solely sells books and periodicals is unfortunately a relic of the past."

Despite the strong headwinds facing brick and mortar retailers, some analysts believe there's still a place for bookstores in readers' hearts.

"Consumers want unique experiences and escapes — we think they are finding that in independent bookstores," said David Schick, managing partner at Consumer Edge Research. "Consumers want to feel a connection to their stores. We do believe Barnes & Noble can make some enhancements that could matter, but it will take time and investment."

Riggio served as CEO from when Barnes & Noble was founded in 1986 through 2002 and then again from late 2016 through April 2017. The company has run through four CEOs in the past five years.

Whoever buys Barnes & Noble will have to find a way to bring something more to the table besides selling books, which are often available cheaper elsewhere, Johnson said.

"If it is Riggio, if he had some secret sauce to reinvent the bookstore for the 21st century, why hasn't he done that in his time there?" Johnson asked.

The company also says it's adopting a shareholder rights plan after noticing an unidentified party or parties rapidly accumulating its stock. The so-called poison-pill plans are often used by companies to defend themselves against hostile takeovers by diluting the value of a would-be acquirer's investment.

© 2018 CBS Interactive Inc.. All Rights Reserved.


Who the heck even uses their E Tablet The Nook? I don't know anyone that uses or even owns one.
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Old 10-03-18, 11:33 PM
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Re: Barnes & Noble (likely) to close stores in 2010

Maybe Amazon will buy them.
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Old 10-04-18, 03:01 AM
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Re: Barnes & Noble (likely) to close stores in 2010

Perhaps, then Amazon will have even less competition, and biblophiles will have one more reason to lament the loss of local bookstores.
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