Tag: barnes and noble

Barnes & Noble Will Be Sold to Elliott Management

According to NPRthere is big news in the publishing world for bookseller Barnes & Noble. Eight months ago, Barnes & Noble revealed it was exploring possible avenues for a potential sale. Now, Barnes & Noble revealed in a press release on Friday that it had reached an agreement with Elliott Management and will be sold to the corporation for 683 million. This move will mean Elliott Management will own the largest bookseller in the United States, which unfortunately has been suffering as of late. Much like other physical bookstores, Barnes & Noble is facing stiff competition from online competitors: primarily Amazon, which today dominates the book world. Amazon regularly sells over 50% of books, leaving bookstores such as Barnes & Noble in the dust. For the past several years, Barnes & Noble has seen its revenue slid downward slowly but surely, presenting numerous challenges for Elliott with this newfound sale to the corporate giant.

 

A man walks past Barnes & Noble in New York City

Image via CNN

 

James Daunt will act as the CEO for Barnes & Noble. Recently, he helped British bookstore Waterstones turn its profits around and pull itself from a similar slump to the one Barnes & Noble has found itself in. Elliott’s financial backing, with 34 billion at least in store, should prove a boon for the struggling giant in booksellers. In any case, the deal will be finalized in September, and we’ll see if the deal pays off.

What are your thoughts on this? Let us know in the comments!

 

 

Featured Image Via NPR 

Barnes & Noble holiday book drive logo

Barnes & Noble Customers Donate Over a Million Books to Needy Children

From November 1, 2018 to December 31, 2018, Barnes & Noble collected books, toys, and games for their annual Holiday Book Drive. In 2018, bookworms seriously came through—in total, Barnes and Noble customers from all around the country donated 1.2 million books to Barnes & Noble’s assortment of charities.

 

Since all Barnes & Noble locations participated in the Holiday Book Drive, you can consider this your good deed for the year—that is if you donated! (Since this was the 2018 book drive, you will need to do another good deed for 2019.)

 

A B&N bookseller stands proudly by display

Image Via Bookharvestnc.org

 

Barnes & Noble donates these books and toys to charities such as Big Brothers Big Sisters, the YMCA, Salvation Army, First Book, Ronald McDonald House, Head Start, and United Way. Depending on the area, many books go to local school districts, children’s hospitals, and libraries. Barnes & Nobles’ management feels the significance of the Holiday Book Drive can’t be understated. Tracy Vidakovich, Vice President of Business Development at Barnes & Noble, congratulated customers on their accomplishment:

 

The annual Holiday Book Drive is something that our booksellers and customers look forward to every year because it has such a positive impact on the lives of children in need in their local communities. Our customers recognize the importance of reading in the lives of children and their enormous generosity gives kids of every background the chance to read, discover and learn.

 

 

Barnes & Noble holiday book drive logo

Image Via Motherhood.com

 

If you missed the chance to donate, don’t let that be your excuse. Your local library will accept your donations year-round, and let’s get real—you’re not going to make more than a dollar or two selling your used books anyway. If you feel your books could be more meaningful elsewhere, check out Bookstr’s list of worthwhile book charities. Many libraries, especially those in prisons and underfunded school districts, are lacking in new, quality copies of books. But you can always help to change that story.

 

 

Featured Image Via Eastridgecenter.com

barnes and noble

Anxiety Book Sales Soaring, says Barnes and Noble

Americans have endured a great deal of stress and anxiety this past year as the political climate has intensified. Tally that stress with the everyday burdens Americans face and anxiety rises.

 

To combat this anxiety, many Americans are turning to bookstores. According to Barnes & Noble, anxiety-related sales have increased by 26% between last year and June 2018. 

 

“We may be living in an anxious nation,” said Liz Hardwell, Senior Director of Merchandising.

 

The stats taken from the book retailer are not the only reports that show an increase in anxiety. According to a poll administered by the American Psychiatric Association (APA), nearly 40% of Americans are more anxious now than they were a year ago.

 

Hardwell says the good news is that “book buyers across the country are also looking for solutions to their stress.”

 

image

Image Via Getty Images

 

According to their sales reports, the top-selling titles include: The Anxiety & Phobia Workbook by Edmund Bourne, The Anxiety Toolkit: Strategies for Fine-Tuning Your Mind and Moving Past Your Stuck Points by Alice Boyes, and The Anxiety and Worry Workbook: The Cognitive Behavioral Solution by David Clark and Aaron Beck.

 

Anxiety book sales increased the most dramatically in California, followed by Michigan and Massachusetts. Conversely, Anxiety book sales dropped the most in Texas, North Carolina, and Florida, according to Barnes and Noble.

 

Though anxiety levels have increased for many Americans, in the same APA poll, a little over half (51%) said they have never sought care from a mental health professional.

 

The rise in mental health-related book sales may suggest that Americans are seeking self-treatment methods to overcome their anxiety. Whether those affected seek professional care, or self-help books, seeking out positive ways to overcome anxiety is what matters.

 

 

Featured Image Via CNN

Barnes and noble facade

Do YOU Have What it Takes to be B&N’s Next CEO?

It is no secret that Barnes & Noble has been in a bit of trouble lately. This past Tuesday, July 3rd, CEO, Demos Parneros, was terminated for violating company policies.

 

Via GIPHY

 

Needless to say, thet are looking for a new CEO who can do what needs to be done to fix what needs to be fixed without breaking company rules or policies. With people already worried about the company closing, big problems like this are really scary.

While the company prepares for its search, a group of leaders are to take over the position. Parneros was the fourth CEO within the past five years; the future CEO will make number five. Does Barnes and Noble really know what they are looking for?

 

Publishers Weekly reported that an executive noted that “The absolute resolute focus for the [new CEO] needs to be on books and bringing customers into the stores. Everything else is secondary. It was also pointed out that “the ability to lead for the long run while having the courage to face short-term business challenges. The past four CEOs have looked for short term ‘wins’ using worn-out retail and supply-chain strategies that weren’t appropriate for the current bookselling environment.” He added: “B&N is caught between resilient independent booksellers who have better tools and business skills than ever before and, of course, Amazon and online retail. Neither their stores nor online presence have adapted well to the new bookselling landscape. The next CEO has to know where bookselling is going and adjust the company accordingly while satisfying the pressures of an increasingly dire financial and sales situation.”

 

Finding a good fit is hard, of course, but as put by several executives of the company, “bookselling experience, or at the very least knowledge of the book business, is a trait that they would like to see in the new CEO… What the new CEO needs to do… is [articulate] a clear retailing statement that gives customers reasons to shop unique to B&N.”

Ah, what do you think about all of this? Do you think you know what it takes to do the job correctly? I genuinely hope the best for the success of Barnes and Noble. Getting back on their feet is proving to be very difficult. I hope they find a great CEO and that something effective can be implemented soon.

 

Feature Image Via BostonGlobe

Barnes & Noble Union Square

Save Barnes & Noble! Chain Bookstore In Danger of Closing

An opinion piece was released in The New York Times on Sunday entitled Save Barnes & Noble! which detailed the financial distress the bookstore chain is currently in and how, if we don’t speak out now, the entire company could go under and we could lose Barnes & Noble for good.

 

This prompted a slew of response pieces, along with the Twitter trend Save Barnes & Noble. Many Twitter users were quick to protect the bookstore chain, leaping to it’s defense:

 

 

Other users, however, were quick to point out that, at the end of the day, Barnes & Noble is still a Fortune 500 corporation. And that back in the 1970s and 1980s, the expansion of the chain, along with the discounted prices they began to heavily advertise, put thousands of independent and mom & pop bookstores out of business.

 

 

Personally, I feel pretty torn about this on so many levels. I do believe that it is vital for us as a society to protect and support independent booksellers, as opposed to the large capitalist corporations that already sort of run the world. And, as the author points out in this opposing article hereB&N being out-sold by a corporation as big as Amazon isn’t necessarily a bad thing. On Amazon, consumers are purchasing items through independent sources that then go through the Amazon website, resulting in a profit for both. So in a way, Barnes & Noble is actually losing out to the very bookstores they ran out of town years ago.

 

Still, it’d be hypocritical of me to say I don’t appreciate Barnes & Noble, corporation and all. I love B&N. It’s been my home away from home for so many different points in my life. When I lived wifi-less for six months, the B&N cafe was where I went to work. When I’ve needed a restroom, fast, while running around out in the world, I could always find a Barnes & Noble nearby. I met my favorite author there once and greeted him through a mess of shaky tears and nervous gyrating.

 

Whenever I’ve been in the mood to just wander around somewhere that smells like books, (mmmmmm… booksBarnes & Noble has been right where I needed it.

 

The loss of Barnes & Noble could potentially result in bookstores no longer being readily available in certain areas and that is both heartbreaking and nauseating on so many levels. People need books. People need bookstores. Bookstores will always act as a safe haven for many and we should ensure that they are easily accessible for all.

 

It is immensely important that everyone has equal access to books; books are essential to us as a society. And, without Barnes & Noble, they may be in danger.

 

It’s a tough situation for all. Still, if I had to choose, I think I’d risk being owned by a Fortune 500 company for the sake of keeping 600 bookstores afloat.

 

Featured Image via Mitzie Mee Blog