Barnes & Noble
From Wikipedia, the free encyclopedia
| Barnes & Noble, Inc. | |
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| Type of Company | Public (NYSE: BKS) |
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| Founded | During the Great Depression on Fifth Avenue in New York, New York |
| Headquarters | New York City |
| Key people | Leonard Riggio, Chairman Steve Riggio, CEO, Vice Chairman Mitchell S. Klipper, COO |
| Industry | Retail (Specialty) |
| Products | Barnes & Noble Booksellers B. Dalton Scribner's Bookstores Bookstop Doubleday Bookstores BN.com Sterling Publishing Co. SparkNotes |
| Revenue |  $4.874 billion USD (2005) |
| Employees | 42,000 (2004) |
| Website | barnesandnobleinc.com, books.com, etc. Note: The website has a number of different URLs. |
Barnes & Noble, Inc. is the largest United States specialty retailer, which operates chiefly through its Barnes & Noble Booksellers chain of bookstores and is headquartered in New York City. Additionally, in some markets, the company operates the smaller Bookstar and B. Dalton Booksellers chains, with the former being found in outdoor strip malls and the latter in shopping malls. The company is known for large, upscale retail outlets, many of which contain a café serving Starbucks Coffee, and for competitive discounting of bestsellers. Most stores also sell magazines, newspapers, DVDs, graphic novels, gifts, games, and music. In addition, most stores have bargain book sections, which have products such as hardcover books with deep discounts. Video games and related items were sold in the company's GameStop retail outlets until October 2004, when the division was spun-off into an independent company.
As of January 31, 2004, the company operated 840 stores in 50 U.S. states and the District of Columbia. They plan to open 30-35 new stores every year.
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[edit] History
Barnes & Noble's start could be traced back to 1873 when Charles M. Barnes opened up a store in Wheaton, Illinois as a book printer. The first true bookstore was actually set up by his son, William (in partnership with G. Clifford Noble), in 1917 in New York City. During the 1950s and 60s their bookstore in New York vied with Brentano's as a new-book retailer. Barnes & Noble distinguished itself by selling textbooks, scholarly, and technical books as well as a huge selection of general-interest titles.
The business was purchased in 1971 by Leonard Riggio, its current chairman. Riggio oversaw the growth of the struggling business into the largest retailer of books in North America, where its critics claim it has contributed (along with online retailer Amazon.com) to the decline of local booksellers. In 2002, Leonard Riggio's brother Stephen Riggio was named CEO.
The chain opened an online bookstore, bn.com, in 1997, largely to compete with Amazon. The two businesses make an interesting comparison, because Amazon is a pure Internet business while Barnes & Noble combines what is practically a clone of the Amazon Internet bookstore with its huge chain of brick-and-mortar retail stores.
[edit] Publishing
Unlike most other bookstore chains, Barnes & Noble has a significant publishing business line. Under its own imprint, Barnes & Noble publishes a number of specialty titles, particularly large-format coffee table books featuring photography, graphic arts, or maps. These include a number of books where Barnes & Noble has acquired the U.S. or English-language rights from another publisher, or where copyright has expired, and arranges for the material to be inexpensively reprinted, often in Singapore or China. In addition, Barnes & Noble commissions reprint anthologies and omnibus editions using in-house editors.
Beginning around 1992 through early 2003, Barnes & Noble released a series of Adult and Children Literature Classics. Originally only available in hardcover, most of the titles came in a black dustjacket version as well as a cream colored dustjacket version. In 2003, Barnes & Noble revamped and expanded the line of Literature Classics as well as released them in both hardcover and paperback mass market editions. As of October 2005 they continue to release new titles to their Classics selection.
In 2002, Barnes & Noble acquired Sterling Publishing, which chiefly publishes how-to books. In 2001, Barnes & Noble acquired SparkNotes, popular educational website and publishing company.
CEO Stephen Riggio has been quoted as saying that he expects 10% of Barnes & Noble bookstore sales to come from books published in-house. While this has been praised as a good business strategy, it is controversial in both bookselling and publishing industry circles because of the competitive advantages conferred by vertical integration.[citation needed]
[edit] Starbucks and Barnes & Noble
Most Barnes & Noble locations feature a Barnes & Noble Café, serving a modified Starbucks beverage menu, along with bakery items from The Cheesecake Factory, sandwiches and bottled beverages from a multitude of vendors including but not limited to Tazo Teas, Harney and Sons Fine Teas, Jones' Sodas, Elliot's Amazing Juices and Fiji Water. Barnes and Noble Cafés are owned and operated exclusively by Barnes & Noble, Inc. Nevertheless, the Starbucks logo is a prominent portion of the overall B&N café branding package, and is depicted on cups, architectural signage, and employee uniforms. Understandably, this leads to confusion for many customers, often traveling, who attempt to use their Starbucks gift cards. Barnes & Noble Cafés serve most of the same drinks from the Starbucks menu. However, flavors such as Peppermint, Gingerbread, and Pumpkin Spice are only seasonal for Barnes and Noble.
[edit] Wi-Fi at Barnes & Noble
In 2004, Barnes & Noble began offering wi-fi in the café area of selected stores, using the AT&T FreedomLink network. As of late 2005, AT&T wireless Internet service was availiable in 600 out of B&N's 850 stores, with all stores to be wired by the end of 2006. Often, AT&T and Barnes & Noble offer free wi-fi access during promotional campaigns with use of a coupon.
[edit] Barnes & Noble College Bookstores
Barnes & Noble College Bookstores, Inc. is a privately held company which operates bookstores at more than 500 institutions of higher education.
Barnes & Noble College Bookstores also operates the self-proclaimed "world's largest bookstore" located on 5th Avenue and 18th Street in New York City. This flagship Barnes & Noble store carries a large variety of textbooks, medical books, and medical supplies in addition to the various trade titles carried at Barnes & Noble, Inc. stores. This store is often the cause of confusion to shoppers who do not realize that it is operated independently of Barnes & Noble, Inc. and are surprised by the lack of a Café, as well as differing discount and return policies.[citation needed]
