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Reading Glasses Sold at Barnes and Noble

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American bookseller and retailer

Barnes & Noble Booksellers
Blazon Individual
ISIN US0677741094
Industry bookselling Edit this on Wikidata
Predecessor Arthur Hinds & Company
Founded 1886; 136 years ago  (1886) (equally Arthur Hinds & Company) in New York City, U.S.
Founders
  • Charles One thousand. Barnes
  • William Barnes
  • Thousand. Clifford Noble
  • Leonard Riggio[1] [2]
Headquarters 122 Fifth Avenue,

New York City

,

U.S.

Number of locations

 614 (As of July 2020[update] [3])

Central people
  • Leonard Riggio (Chairman)
  • James Daunt (CEO)
Products Books, maps, CDs, DVDs, toys, games, stationery, calendars, gift packs, magazines, board games, encyclopedias
Brands
  • Nook
  • SparkNotes
  • Barnes & Noble Booksellers
  • Nook Digital, LLC
  • Sterling Publishing
Acquirement Decrease US$ three.552 billion (FY 2019)

Operating income

 Increase US$ 38.596 million (FY 2019)

Net income

 Decrease United states of america$ iii.769 one thousand thousand (FY 2019)
Total assets Steady US$ one.705 billion (FY 2019)
Total disinterestedness Steady U.s.a.$ 444.497 million (FY 2019)
Owner Elliott Management Corporation

Number of employees

 24,000 (2019)
Website
  • barnesandnobleinc.com (corporate site)
  • barnesandnoble.com (consumer site)
  • nook.com (consumer site)
Footnotes / references
[4]

Barnes & Noble Booksellers is an American bookseller. It is a Fortune 1000 company and the bookseller with the largest number of retail outlets in the U.s.. As of July seven, 2020, the visitor operates 614 retail stores in all 50 U.S. states.[3]

Barnes & Noble operates mainly through its Barnes & Noble Booksellers concatenation of bookstores. The visitor'southward headquarters are at 122 Fifth Avenue in New York Metropolis.[5]

After a serial of mergers and bankruptcies in the American bookstore industry since the 1990s, Barnes & Noble stands solitary as the United States' largest national bookstore concatenation.[6] [seven] Previously, Barnes & Noble operated the chain of minor B. Dalton Bookseller stores in malls until they announced the liquidation of the chain. The company was also i of the nation'south largest manager of college textbook stores located on or most many college campuses when that sectionalization was spun off as a split public visitor called Barnes & Noble Education in 2015. During the COVID-19 pandemic, Barnes & Noble saw upwards to a 500% turn a profit from graphic novel and manga sales.[8]

The company is known by its customers for large retail outlets, many of which contain a café serving Starbucks coffee and other consumables. Most stores sell books, magazines, newspapers, DVDs, graphic novels, gifts, games, toys, music, and Nook e-readers and tablets. They offering publishing and cocky publishing services.

History [edit]

19th century: Foundations [edit]

Barnes & Noble began in 1886 as a bookstore called Arthur Hinds & Company,[9] located at 4 Cooper Establish in the Cooper Union Edifice in New York Urban center.[10] [11] [12] In the autumn of 1886, Gilbert Clifford Noble, a then-recent Harvard graduate from Westfield, Massachusetts, was hired to work there every bit a clerk.[thirteen]

In 1894, Noble was made a partner, and the proper noun of the store was changed to Hinds & Noble.[14]

20th century: Expansion [edit]

1900–1919 [edit]

In 1901, Hinds & Noble moved to 31–35 W. 15th Street.[fifteen]

In 1917, Noble bought out Hinds and entered into a partnership with William Barnes, son of his erstwhile friend Charles Barnes; the name of the store was changed to Barnes & Noble soon afterwards.[16] [17] Charles had previously opened a volume-press business in Wheaton, Illinois, in 1873, named the C. M. Barnes-Wilcox Visitor; William Barnes, still, divested himself of his buying interest in his father's business shortly before his partnership with Noble. (His father's company would become on to go the Follett Corporation.) Although the flagship store in one case featured the motto "Founded in 1873," the C. M. Barnes-Wilcox Company never had any connection with Barnes & Noble, save for the fact that both were partly owned (at dissimilar times) past William Barnes.

1920–1939 [edit]

In 1930, Noble sold his share of the company to William Barnes' son, John Wilcox Barnes.[18] Noble died on June 6, 1936, at the age of 72.[nineteen] In 1932, at the elevation of the Corking Depression, the bookstore moved its flagship location to 18th Street and 5th Avenue,[twenty] which served every bit the company's flagship location until its closure in 2014. The Noble family unit retained ownership of an associated publishing business organization, and Barnes & Noble opened a new publishing division in 1931.[18]

1940–1959 [edit]

In 1940, the store was 1 of the get-go businesses to characteristic Muzak, and it underwent a major renovation the following year.[21] That decade, the visitor opened stores in Brooklyn and Chicago.[22] William Barnes died in 1945, at the age of 78, and his son John Wilcox Barnes assumed full command.[22] The company underwent a significant expansion betwixt the 1950s and the 1960s, opening an additional retail store on 23rd Street in Manhattan, as well as shops virtually the City University of New York, Harvard, and other Northeast higher campuses.[23]

1960–1979 [edit]

Barnes & Noble corporate headquarters, 122 (122–124) Fifth Avenue between West 17th and 18th Streets in the Flatiron District neighborhood of Manhattan, New York City

John Barnes died in 1964, and the visitor was sold to the conglomerate Amtel two years later.[24] The business was and so purchased in 1971 by Leonard Riggio, who has been credited as one of the founders,[1] [2] for $i.ii meg.[23] By then, information technology had been mismanaged and consisted only of "a significantly reduced wholesale operation and a single retail location—the flagship store at 105 Fifth Artery."[23] The publishing operation was sold separately by Amtel to Harper & Row.[25] In 1974, Barnes & Noble became the first bookstore chain to advertise on television and a year later, the company became the beginning bookseller in the U.s.a. to disbelieve books, by selling The New York Times acknowledged titles at xl% off the publishers' list price.[26] Between the 1970s and the 1980s, Barnes & Noble opened smaller discount stores, which were somewhen phased out in favor of larger stores. They besides began to publish their own books to be sold to mail-order customers. These titles were primarily affordable reissues of out-of-print titles and selling them through mail-order catalogs allowed Barnes & Noble to reach new customers nationwide.[26]

In Nov 1974, editors of the British-produced Guinness Volume of Records, claimed on the BBC One television program Record Breakers that the Fifth Avenue store of Barnes & Noble had overtaken that of London'southward Foyles bookshop to become the globe's biggest bookstore.[27]

1980–1999 [edit]

Barnes & Noble continued to expand throughout the 1980s, and information technology purchased the primarily shopping mall-based B. Dalton chain from Dayton Hudson in 1986, for an estimated $275 million to $300 one thousand thousand.[28] Solveig Robinson, writer of The Volume in Society: An Introduction to Print Civilisation, wrote that the purchase "gave [Barnes & Noble] the necessary know-how and infrastructure to create what, in 1992, became the definitive bookselling superstore."[29] The acquisition of the 797 B. Dalton bookstores turned the company into a nationwide retailer, and by the end of fiscal year 1999, the 2d-largest online bookseller in the United States.[xxx] B&N'southward critics claim that it has contributed to the decline of local and contained booksellers.[31] The last B. Dalton stores were scheduled to shut in Jan 2010.[xxx]

In 1989, Barnes & Noble purchased the 22-store chain Bookstop.

In September 1993, Barnes & Noble became a publicly traded company by issuing $77 million worth of stock on the New York Stock Commutation under the BKS ticker symbol.[32] [33] The company remained on the stock exchange until August 2019 when Elliot Management purchased all of the company'south stock and took the company private.

Earlier Barnes & Noble created its official website, it sold books directly to customers through mail-order catalogs. Information technology commencement began selling books online through an early videotex service called "Trintex", a joint venture between Sears and IBM, but the company'due south website was non launched until May 1997.[34] BarnesandNoble.com went public in 1999.[35]

21st century: Operating in an electronic environment [edit]

2000s [edit]

Barnes & Noble logo used from 1999 until 2019. A modified version of this logo with a straightened ampersand was used from 2019 until 2020.

In 2004, it was reported that the reading of books was on the decline in America, with the number of non-reading adults increasing by 17 million between 1992 and 2002. Despite this, Barnes & Noble claimed that its retail store business was expanding in the book market.[36] Beginning in 1999, Barnes & Noble owned GameStop, a video game and electronics retail outlet. The company distributed its shares in GameStop in late 2004, spinning it off into its own company in an attempt to simplify its corporate structure.[37]

CEO Leonard Riggio stepped downwardly in 2002, naming his younger brother and old interim chief executive of BarnesandNoble.com, Stephen Riggio, to succeed him. Some corporate governance experts noted that this appointment could potentially cause conflict of interest, just the company board noted that Riggio's experience at the visitor made him the right person for the job.[38] Stephen Riggio stepped downwardly from the position in 2010.[39]

2010s [edit]

In 2010, website president William Lynch was named CEO. He is credited with helping launch the visitor'south electronic book store and overseeing the introduction of its electronic volume reader, the Nook. Many observers saw his date every bit underscoring the importance of digital books to Barnes & Noble'south future. Steve Riggio stayed on as vice chairman.[40] When Lynch resigned in mid-2013,[41] he was replaced by Primary Financial Officer Michael Huseby early the next year.[42] Following the spinoff of Barnes & Noble Educational activity, Huseby departed to head the new firm; his identify was filled in mid-2015 by Ronald Boire,[43] [44] who departed 1 twelvemonth subsequently.[45] Demos Parneros was named Barnes & Noble's Chief Executive Officer in April 2017 after having joined the company equally Principal Operating Officer in November 2016; nevertheless, he was fired in July 2018 for "company policy violations" without severance and was immediately removed from the visitor's lath, at the advice of a law business firm hired past Barnes & Noble.[46] On August 28, 2018, Parneros filed a lawsuit against Barnes & Noble, challenge wrongful termination.[47]

Later on the bankruptcy and closure of its master competitor, Borders Group, in 2011,[48] Barnes & Noble became the last remaining national bookstore chain in the U.s.a..[6] [7] This followed a series of mergers and bankruptcies in the American bookstore industry since the 1990s, which besides saw the demise of Waldenbooks, Barnes & Noble'due south own subsidiary B. Dalton, and Crown Books, among others. Barnes & Noble'south largest physical bookstore rival is at present Books-A-Million, which does non operate in the Western US. Barnes & Noble as well faces contest from general retailers, especially from Amazon.com, and from regional and independent booksellers. Amazon has even opened its own physical bookstores, once again creating a second national bookstore chain.[49]

Barnes & Noble began reducing its overall presence in the 2010s, closing its original flagship store in early on 2014.[50] In mid-2014, the company announced it would separate its Nook Media division from its retail store sectionalization.[51]

In February 2018, Barnes & Noble permanently laid off 1,800 full fourth dimension employees at an annual cost savings of $twoscore million per year.[52] Co-ordinate to TechCrunch, the visitor essentially fired their entire full time staff at all their stores, who would exist making an boilerplate of $22,000 per year (~$xi per hour), and were replaced by part time workers earning close to minimum wage.[53]

In the 2018 fiscal year that ended in July, the visitor overall losses reached $17 million.[54]

In early July 2018, Barnes & Noble fired CEO Demos Parneros for an unspecified violation of company policy, which was later revealed to be over sexual harassment claims.[55] Information technology accused Pareneros of breaching his duties of loyalty and good faith and acting as a "faithless servant" by sexually harassing the female employee, bullying subordinates, and attempting to "sabotage" a potential acquisition of the New York-based company, and asserted that the company should therefore be entitled to claw back his bacon, bonus, and other benefits during the period of his "disloyal conduct".[56]

On October 3, 2018, the board of directors announced that they would entertain offers to buy the company. Among the potential buyers was Leonard Riggio, who owned at the time approximately 19% of Barnes & Noble stock. As a event of the news, the company's stock price jumped by near 30%.[57]

In Baronial 2019, Elliott Direction Corporation acquired the company[58] for approximately $683m with James Daunt, the managing director of London-based Waterstones Booksellers Ltd., becoming CEO.[59] James Daunt will exist CEO of both Waterstones and Barnes & Noble and will relocate from London to New York.[60] On August 7, 2019, Barnes & Noble became a privately held, wholly owned subsidiary of Elliott.[threescore]

2020s [edit]

In March 2020, Barnes & Noble announced that they would temporarily stop selling magazines and, also temporarily, close 400 of their 620 stores due to the COVID-19 pandemic.[61] Effectually 12 B&N shops were airtight for expert since Elliott Advisors' conquering of the company, and Daunt plans to modify the acquisition process, with initial frontlist orders beingness made centrally and in smaller numbers than in previous years.[62] Every bit of 2021, they accept announced the release of a new x-inch Android-based tablet, named the Nook 10" Hard disk, in a partnership with Lenovo, with Lenovo manufacturing the device.[63]

Publishing [edit]

Barnes & Noble maintains a split publishing business in improver to its retail stores and other entities. Barnes & Noble's publishing company got its start by reissuing inexpensive versions of out-of-impress books, and made a push to expand the unit in 2003. The company saw success the following year; in September 2004, its book, "Hippie," reached The New York Times All-time Seller listing.[64]

Barnes & Noble often publishes and sells books at a lower toll than competitors, and sells lines of inexpensive books like Barnes & Noble Classics [64] and the leather-bound Barnes & Noble Collectible Classics drove which has information technology has published since 1992. In addition, the company has a second paperback series chosen the Barnes & Noble Library of Essential Reading.[65] Barnes & Noble's edition of The Gentle Art of Exact Cocky-Defence force by Suzette Haden Elgin, has sold over 250,000 copies,[34] and its reissued edition of The Columbia History of the Earth by John Garrity, has sold over one million copies.[34] [66]

The company has expanded concern past acquiring several firms over the years, including J.B. Fairfax International in 1999,[67] SparkNotes, an educational website and publishing company, in 2001[68] and Sterling Publishing in 2003.[34]

Nutrient service [edit]

In 1993, Barnes & Noble signed an agreement to serve Starbucks java in each of its existing and time to come cafes.[69] [70] In 2004, Barnes & Noble began offering Wi-Fi in the café area of selected stores, using SBC FreedomLink (now the AT&T Wi-Fi network). All stores offered Wi-Fi as of 2006 and as of July 27, 2009, Wi-Fi is offered for free to all customers.[71]

In 2016, Barnes & Noble announced plans to open up four concept stores in 2017 that featured cafés twice the size of its usual food spots, besides as bars offering wine and beer. Restaurants would also include a waitstaff and a total menu for breakfast, luncheon, and dinner. The restaurants were expected to revive sales growth. Visitor executives planned to open additional concept stores if sales met expectations.[72] The first stores were opened in Scarsdale, New York, Edina, Minnesota, Plano, Texas, and Folsom, California.[73]

[edit]

Barnes & Noble hires community business organization evolution managers to engage in community outreach.[74] [75] Barnes & Noble also gives back to the community to increase literacy and education. The Barnes & Noble located in Fairbanks, Alaska gave over $80,000 to the community between 2015 and 2018 through book fair fundraising programs.[74] To promote nationwide literacy amid 1st through 6th graders and encourage more reading during the summer, Barnes & Noble has implemented a summer challenge.[76] [77] [78]

The Barnes & Noble Review [edit]

The Barnes & Noble Review is an online magazine, hosted on Barnes & Noble'due south website, that publishes evaluations of both fiction and nonfiction works, along with essays, interviews, and pieces on other topics. It was launched in October 2007 by Barnes & Noble CEO Steve Riggio and James Mustich Jr., publisher of the book catalog A Mutual Reader. Regular contributors to the magazine take included book critics Michael Dirda, Brooke Allen, Laura Miller, and Adam Kirsch, as well as prominent writers in fields exterior of literary criticism, such as political journalists Chris Hayes and Ezra Klein, philosopher A. C. Grayling, music critic Robert Christgau, and cartoonist Ward Sutton. Miller, who has written for Salon and Mustich's Common Reader, said, "The reviews [at BNR] are the same as anywhere else", adding that the tone and length of the pieces evoke The New York Times Book Review rather than the less formal Salon. The mag's web traffic flourished during its first few years. Co-ordinate to Compete.com, information technology amassed l,000 unique visitors in December 2009.[79]

Some critics were originally skeptical of The Barnes & Noble Review. Art Winslow, onetime literary editor of The Nation, said that because Barnes & Noble is a brand proper noun, BNR 's contributors are effectively endorsing the corporation, and that the motives behind the publication undermine its integrity: "Criticism's content should be costless of any commercialism. Barnes & Noble has found another style to sell books, and that'due south the Review. ... I wouldn't write there." Mustich disputed the idea that the mag serves as a corporate tactic: "We counter that skepticism with quality. If people read the site, they tin can determine that we are doing what we purport to practice. They have never tried to influence my judgment. The kickoff endeavor would have been the last."[79]

Barnes & Noble Nook [edit]

Barnes & Noble Nook (styled NOOK) is a suite of e-book readers developed past the visitor,[80] based on the Android platform. The kickoff device was announced in the United States on October xx, 2009, and was released November 30, 2009, for $259.[81] On June 21, 2010, Barnes & Noble reduced the Nook's cost to $199, likewise as launched a new Wi-Fi-only model, for $149, and released a Nook colored bear on screen for $249.[82]

The Nook competes with the Amazon Kindle, Kobo eReader, and other e-reader offerings and colour tablets with reading apps, such as Apple'southward iBooks for iOS devices. Various Nook models feature a 6-inch, 7-inch, or larger touchscreen.[83] Version 1.iii of the Nook introduced Wi-Fi connectivity, a spider web browser, a dictionary, chess, and sudoku games, and a carve up, smaller color touchscreen that serves as the primary input device. The Nook likewise features a Read in Store capability that allows visitors to stream and read whatsoever book for up to ane hour while shopping in a Barnes & Noble bookstore. According to a June 2010 CNet commodity, the company planned to expand this feature to include periodicals in the near futurity.[84] The colour version of the Nook introduced a 7-inch color touchscreen and the ability to view at a portrait or landscape orientation.[85]

On April xxx, 2012, Microsoft invested $300 meg for a 17.6% stake in Nook, which valued the business at nigh $1.7 billion.[86]

In November 2012, the technology publications Mashable and Techdirt criticized the license understanding with which Barnes & Noble sells ebooks to consumers, pointing out that the rights to re-download a purchased ebook expire when the customer's credit carte du jour expires, and a valid credit carte must be added to the account to restore this functionality.[87] [88]

In June 2014, Barnes & Noble had previously announced that it would spin off its Nook Digital division into a carve up publicly traded company,[51] [89] but equally of 2016, Nook remains a part of Barnes & Noble. That same month, the visitor announced a partnership with Samsung Electronics to make Nook tablets, equally the bookseller moved forward with plans to revamp its digital business concern.[90] Samsung and Barnes & Noble introduced the Samsung Galaxy Tab 4 Nook 7.0 in August 2014, followed by the Samsung Milky way Tab 4 Nook 10.i in Oct 2014. In December 2014, Barnes & Noble announced that it had ended its Nook partnership with Microsoft by buying dorsum its stake.[91] Samsung and Barnes & Noble continue to innovate new Nook tablets.[92]

In March 2016, Barnes & Noble appear it would close the Nook App Shop and Nook Video and in the Uk close the Nook Shop on March 15.[93] It will go along to sell due east-books also as digital magazines and newspapers in the US.

Higher bookstores [edit]

Barnes & Noble Education, Inc.
Blazon Public

Traded as

 NYSE: BNED
S&P 600 component
Industry bookselling Edit this on Wikidata
Predecessor Corporate spin-off from Barnes & Noble, Inc.
Founded Baronial iii, 2015; vi years ago  (2015-08-03)
Headquarters

Basking Ridge, New Jersey

,

United States

Number of locations

 773 (Dec 2018)[94]

Key people

 Michael P. Huseby (CEO, chairman)
Brands Yuzu digital textbook platform
Divisions
  • Barnes & Noble College Booksellers
  • MBS Textbook Exchange
  • Digital Student Solutions
Website world wide web.bned.com

In February 2015, Barnes & Noble had announced plans to spin off its higher bookstore assets and create a split up company called Barnes & Noble Didactics.[95] On August iii, 2015, Barnes & Noble Education, Inc. began trading on the New York Stock Exchange under the ticker symbol, "BNED".[96] [97] The company operated stores defended to selling college textbooks, both on and off campus.[98]

In February 2017, Barnes & Noble Education had acquired MBS Textbook Exchange, a major textbook distributor based in Columbia, Missouri, for $174.2 million in cash.[99] [100]

By December 2018, Barnes & Noble Education had operated or managed 773 campus bookstores under contracts.[94]

In July 2019, Barnes & Noble Education revealed that the company had turned down several offers by California-based Bay Uppercase Finance to take over the company citing that the offers by Bay Capital letter were "substantially undervalued BNED, were highly conditional and not apparent."[101] Unlike its onetime parent visitor, BNED was diversifying its concern by the acquisition of many digital services companies to increment the number of services offered by its Digital Student Solutions sectionalization during its by iv years as an independent company.

Digital Student Solutions division [edit]

In March 2016, Barnes & Noble Education enlarged their Digital Educatee Solutions online services segmentation by acquiring LoudCloud Systems, a digital platform and analytics provider to clients in higher education, the for-profit sector, and K-12 segment.[102]

In Baronial 2017, Barnes & Noble Education acquired Student Brands for $58.5 One thousand thousand.[103]

In Baronial 2018, Barnes & Noble Teaching caused PaperRater, a service that helps students write papers and identify plagiarism.[104]

Run across likewise [edit]

  • Book Stacks Unlimited
  • Bookselling
  • List of book distributors
  • List of bookstore bondage
  • List of group-0 ISBN publisher codes

References [edit]

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Further reading [edit]

  • Kirkpatrick, David D. (July 19, 1999). "Barnes & Noble's Jekyll and Hyde". New York magazine.
  • Trachtenberg, Jeffrey A. (April xviii, 2014). "What's Barnes & Noble'southward Survival Plan? Former CEO Cuts Holding to 20%, but Says, 'The Story Isn't Written Yet'". The Wall Street Journal.
  • Archived at Ghostarchive and the Wayback Motorcar: The Rise And Fall Of Barnes & Noble. CNBC. November 8, 2018.
  • Barnes & Noble is splitting upwards its businesses (again)

External links [edit]

keatingleptied.blogspot.com

Source: https://en.wikipedia.org/wiki/Barnes_%26_Noble

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