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Old 09-04-2018, 02:07 PM   #21
Dr. Seymour Love Dr. Seymour Love is offline
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https://www.nytimes.com/2018/08/28/b...t-lawsuit.html
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Old 09-07-2018, 01:19 AM   #22
DetroitSportsFan DetroitSportsFan is offline
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Barnes & Noble is overrun with problems

https://money.cnn.com/2018/09/06/new...zon/index.html

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Barnes & Noble, already reeling from the messy departure of its chief executive, said on Thursday that same-store sales fell 6.1% last quarter compared with a year ago.

The company attributed the decline to a drop in store traffic. Online sales also dropped 14.3% because of fewer promotions, including in Barnes & Noble's Nook tablet business.

Barnes & Noble's overall losses widened to $17 million. The combination led to a sell-off in Barnes & Noble (BKS) stock.

The weak quarter came as other retailers were capitalizing on a healthy consumer economy, and it was another sign of a company in serious trouble.
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Old 09-07-2018, 03:05 AM   #23
InuYashaCrusade InuYashaCrusade is offline
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They'll be gone by 2020. This coming holiday season will be the weakest yet and they'll announce some more closures/bankruptcy before summer 2019.
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Old 10-04-2018, 02:23 PM   #24
Dr. Seymour Love Dr. Seymour Love is offline
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From The Wall St Journal:

Barnes & Noble Inc. said it is considering a sale after receiving interest from multiple parties including its executive chairman, Leonard Riggio, the latest twist for the embattled bookseller as its business reaches a critical juncture following years of decline.

The company on Wednesday said it would launch a formal review process to evaluate its strategic options. A special committee of the board will lead the review.

Barnes & Noble also said that it has adopted a short-term shareholder rights plan—also known as a poison pill—meant to fend off an unsolicited acquirer, after observing “rapid material accumulations” of its stock by parties it can’t identify.

The retail industry is undergoing another major shift—to e-commerce. How did we get here? Photo: Associated Press
In after-hours trading, Barnes & Noble shares were up nearly 20%.

Physical book retailing has been under assault for the better part of two decades from the rise of Amazon.com Inc. and online distribution. Borders Group Inc., the other major chain, filed for bankruptcy protection in 2011 and later went into liquidation.

Barnes & Noble is the one remaining publicly traded superstore chain, but the book retailer has watched its market share and clout in the industry gradually erode.

Years of sliding sales and unsuccessful turnaround efforts have taken a heavy toll. Its market capitalization has been sliced by more than two-thirds since 2015 to about $400 million. And there is no sign of an end to the bleeding. For the full fiscal year that ended April 28, total sales fell 6% to $3.7 billion.

The company remains optimistic. It has added new stores this year and has forecast an increase in earnings before interest, taxes, depreciation and amortization in fiscal 2019.


Amazon is a major factor for its troubles: The tech giant now accounts for more than 60% of all books sold online, including physical and digital books, according to Peter Hildick-Smith, chief executive of book research company Codex Group LLC.

To its critics, Barnes & Noble has failed to imagine what a modern bookstore can be, despite several attempts to reinvent the format—whether it be efforts a few years ago to add more gifts and nonbook items, or more recent efforts to add full-service restaurants.

Book sales as a whole have lately tracked ahead of Barnes & Noble’s performance, suggesting that it is isn’t capturing consumer demand sufficiently.

Print-book unit sales rose slightly last year to 687 million, according to book tracker NPD BookScan, even as Barnes & Noble’s sales slid. There have been several high-performing titles in 2018, with several related to politics, including Michael Wolff’s “Fire and Fury: Inside the Trump White House,” and James Comey’s “A Higher Loyalty: Truth, Lies, and Leadership.”

“The publishing industry today is robust,” said literary agent Richard Pine. “You have new authors breaking through, together with the tried-and-true authors selling.”

Barnes & Noble has struggled with its digital offerings. Its boldest attempt, the Nook e-reader, fell flat in the market and was unable to compete with devices from Amazon and Apple Inc. Barnes & Noble has since reduced its Nook footprint in stores and turned to third-party device suppliers.

Online sales remain weak. Online revenue fell 14% in the most recent quarter. On Wednesday, during the retailer’s annual shareholder meeting, Mr. Riggio said improving the company’s website was a priority.

Management turmoil has exacerbated the problems. Barnes & Noble has had five chief executives since 2013. The latest, Demos Parneros, was fired abruptly in July for violating company policies. Mr. Parneros, who didn’t receive any severance pay, has since filed suit against Barnes & Noble, alleging wrongful termination.

Mr. Parneros said the firing followed failed talks involving a potential sale of the company.

Barnes & Noble’s troubles attracted the attention of investor Richard Schottenfeld, who has built a 6.9% stake in the business.

The shareholder rights plan, which will expire in a year, would go into effect if a person or group acquires 20% or more of Barnes & Noble common shares without the board’s approval.

The plan would allow all rights holders to purchase preferred shares that are equivalent to the retailer’s common stock at a 50% discount. This would dilute the outsider’s holdings.

It is unclear whether Mr. Riggio, who has a 19.2% stake in Barnes & Noble, indicated an offer price to the company and how he would finance a bid. The company said Mr. Riggio will vote his shares in favor of any transaction recommended by the committee.
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Old 10-04-2018, 06:09 PM   #25
InuYashaCrusade InuYashaCrusade is offline
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Whatever they have to do to keep the company alive and kicking. I don't want to see B&N close but it feels inevitable if things don't change soon.
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Old 10-04-2018, 10:58 PM   #26
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It was announced a few weeks ago that the B&N in my town was closing. They claim the rent was too high.
This marks the third closure of a major business in my town. The Best Buy said they will close in early November and the Ruby Tuesday made an unannounced closure. This all happened in a span of 1 week.
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Old 10-06-2018, 07:54 PM   #27
Pookymeister Pookymeister is offline
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I opened a membership yesterday, so hoping it at least lasts another year locally.
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Old 10-06-2018, 07:57 PM   #28
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Quote:
Originally Posted by metsb86 View Post
It was announced a few weeks ago that the B&N in my town was closing. They claim the rent was too high.
This marks the third closure of a major business in my town. The Best Buy said they will close in early November and the Ruby Tuesday made an unannounced closure.
That's still a restaurant?
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Old 10-06-2018, 08:49 PM   #29
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Quote:
Originally Posted by noirjunkie View Post
That's still a restaurant?
Like DVD it still exists

Like BN it still exists

RT has somewhere around 550 restaurants (depending on the source you check) so not too hard to find them -- somewhat easier than a Farrells' Ice Cream Parlour or Blockbuster Video which appear to be down to 1 ea
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Old 10-08-2018, 01:17 AM   #30
Dr. Seymour Love Dr. Seymour Love is offline
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Quote:
Originally Posted by noirjunkie View Post
That's still a restaurant?
We still have one in our town as well.
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Old 06-08-2019, 07:50 PM   #31
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B&N being sold to a hedge fund...

https://finance.yahoo.com/news/barne...113643703.html
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Old 06-12-2019, 05:46 PM   #32
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I feel like the book industry in general is screwed up right now. I remember in the past buying books after browsing B&N then amazon offered them so much cheaper that I started buying books from them. I don't discover new authors on amazon though so in the long run I actually end up buying way less books. Basically stores like Barnes and noble are doing the advertising for books but they don't get compensated for it. If barnes and noble and the other brick and morter stores go away then most authors are left with little to no advertising because stores like amazon imo suck at giving books exposure.

Personally I think the best thing for the industry and the best thing for Barnes and noble would have been for B&N to do price matching. I would end up buying more books not have to worry about books getting damaged in shipping and B&N would get rid of the massive window shopping problem they have. Personally I think Brick and mortar retailers should get a discount from publishers for the advertising they are doing.
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Old 06-12-2019, 07:57 PM   #33
BuckNaked2k BuckNaked2k is offline
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Quote:
Originally Posted by veritas View Post
Personally I think the best thing for the industry and the best thing for Barnes & Noble would have been for B&N to do price matching. I would end up buying more books not have to worry about books getting damaged in shipping and B&N would get rid of the massive window shopping problem they have.
Unless things have changed, (it's been a while), I don't think B&N stores even price match their own website. Imagine that: local stores have to compete with the cheaper prices offered on their own company's website! Imagine being a store manager getting chewed out by the regional sales guy for not hitting your numbers.
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Old 06-12-2019, 09:15 PM   #34
hariseldon hariseldon is offline
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Quote:
Originally Posted by BuckNaked2k View Post
Unless things have changed, (it's been a while), I don't think B&N stores even price match their own website. Imagine that: local stores have to compete with the cheaper prices offered on their own company's website! Imagine being a store manager getting chewed out by the regional sales guy for not hitting your numbers.
There is the option of PM the website -- essentially it's like creating a Pick up in store order with the web price, but that blocks the Member discount since is essentially becomes an online order
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