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Barnes & Noble
Barnes & Noble
Barnes & Noble, Inc.
Type Founded
Public (NYSE: BKS) Wheaton, Illinois, U.S. (1873) as a printing business New York, New York, U.S. (1917) first bookstore opened Charles M. Barnes William Barnes G. Clifford Noble 122 5th Ave New York, NY, U.S. 800 stores at 2008-05-03 Leonard Riggio, Chairman Steve Riggio, CEO, Vice Chair Mitchell S. Klipper, COO Retail (Specialty) Barnes & Noble Booksellers B. Dalton Scribner’s Bookstores Bookstop Doubleday Bookstores Sterling Publishing Co. SparkNotes ▲$5.4 billion USD (2007)[1] 40,000 (2008)[1] www.bn.com (consumer site) www.barnesandnobleinc.com (corporate site)
Founder(s)
Headquarters Number of locations Key people
Industry Products
Barnes & Noble in an former theater in Rochester, Minnesota the company’s GameStop retail outlets until October 2004, when the division was spun-off into an independent company. As of May 2, 2008, the company operated 798 stores in all 50 U.S. states and the District of Columbia. Of them, 85 are B. Dalton outlets. The company has closed 882 B. Dalton stores since 1989 and says that they will continue to do so. [3]
Revenue Employees Website
Barnes & Noble, Inc. is the largest book retailer in the United States,[2] operating mainly through its Barnes & Noble Booksellers chain of bookstores headquartered in lower Fifth Avenue in Manhattan. The company operates the chain of small "B. Dalton Booksellers" stores in 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. Video games and related items were sold in
History
Barnes & Noble originated in 1873 when Charles Barnes opened a book-printing business in Wheaton, Illinois. The first true bookstore was set up by his son, William, in partnership with G. Clifford Noble, in 1917 in New York City.[4] The original bookstore was located at 31 West 15th St., and opened during World War I. In 1932, at the height of the Great Depression, the bookstore was moved to its current flagship location on 18th Street & Fifth Avenue.
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The business was purchased in 1971 by Leonard Riggio, who oversaw the growth of the business. In 1974, Barnes & Noble became the first bookstore to advertise on TV, and a year later, the company became the first bookseller in America to discount books, by selling New York Times best-selling titles at 40% off the publishers’ list price.[5] During the 1970s and 1980s, Barnes & Noble opened smaller discount stores, which were eventually phased out in favor of larger stores. They also 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. Barnes & Noble continued to expand throughout the 1980s, and in 1987 purchased B. Dalton Bookseller from Dayton Hudson. The acquisition of 797 bookstores turned the company into a nationwide retailer and the second-largest bookseller in the United States. B&N’s critics claim that it has contributed to the decline of local and independent booksellers.[6] In 2002, Leonard Riggio’s brother Stephen Riggio was named CEO.
Barnes & Noble
Barnes & Noble on Fifth Avenue in New York City The Columbia History of the World by John Garrity has sold over 1 million copies.[8] Since then, the company has expanded its publishing operation. This expansion was aided by the company’s acquisition of SparkNotes, an educational website and publishing company. Further expansions of the company’s publishing business include the purchase of how-to publisher Sterling Publishing in 2003 and the launch of Quamut in 2008. From circa 1992 through early 2003, Barnes & Noble released a series of literary classics for adults and children under the imprint Barnes & Noble Classics Collection. Originally available only in hardcover, most titles came in a black or cream-colored dustjacket edition. In 2003, Barnes & Noble revamped and expanded its line of literature classics, releasing books in hardcover, trade paperback and mass-market editions.
Web site
Before Barnes & Noble created its web site, it sold books directly to customers through mail-order catalogs. It first began selling books online in the late 1980s, but the company’s web site was not launched until May 1997. The site now carries over 1 million titles.
Cafés
Publishing
Barnes & Noble publishes many of the books it sells, inexpensively reprinting non-copyrighted titles or acquiring the U.S. or English language rights from another publisher. In addition, Barnes & Noble commissions reprint anthologies and omnibus editions using in-house editors. Barnes & Noble began to publish books during the 1980s, when they started reissuing out-of-print titles. One of these titles, The Gentle Art of Verbal Self-Defense by Suzette Haden Elgin, has sold over 250,000 copies. [7] The reissued edition of
The interior of the Barnes & Noble located at The Grove at Farmers Market, Los Angeles
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The first store to feature a café serving Starbucks beverages was in Springfield, NJ in 1993. Since then, most stores have been amended or constructed specifically to feature a cafe serving Starbucks beverages, Harney & Sons or Tazo Tea, FIJI Bottled Water, bakery goods from The Cheesecake Factory, candy from Godiva Chocolatiers, sandwiches and other specialty products. Although the cafés are owned and operated by Barnes & Noble, servers follow Starbucks’ standards in beverage preparation; the prominent Starbucks logo is sometimes confusing for customers wanting to use Starbucks stored-value cards or the Starbucks Gold Card, which are not accepted (Although the Barnes & Noble Membership is accepted to receive a discount on any Cafe related good).
Barnes & Noble
book groups. Community relations managers work closely with local schools and groups for the promotion of literacy and the arts. One of the things that Barnes & Noble does in the community is sponsor a children’s summer reading program that promotes literacy and puts over 2 million books into the hands of the children each year.[9] Barnes & Noble also hosts bookfairs which raise funds for schools and libraries. The company also hosts an annual holiday book drive to collect books for disadvantaged children. 1.16 million books were collected and distributed in 2007.[10]To promote nationwide literacy among 1st to 6th graders and encourage more reading during the summer, Barnes & Noble has implemented a summer challenge where if children read 8 books and write about their reading, Barnes & Noble will give the readers a free book.[11]
Wi-Fi
In 2004, Barnes & Noble began offering WiFi in the café area of selected stores, using the AT&T FreedomLink network. All 793 stores currently offer Wi-Fi, an effort which was completed in 2006. Often, AT&T and Barnes & Noble offer free Wi-Fi access during promotional campaigns with use of a coupon, but Wi-Fi is not normally provided free of charge; payment goes to AT&T Online.
Steve Riggio, CEO
Steve Riggio is CEO of Barnes & Noble, Inc. He is also vice chairman of the company and served on the board of directors. Riggio began his career at Barnes & Noble in 1975 after graduating from Brooklyn College. After getting his start in the buying and merchandising departments, he became general manager and vice president of the company’s direct mail division. He held this position from 1981 to 1987. Riggio became executive vice president of merchandising in 1987. Then, in 1995, he was appointed chief operating officer. He was appointed CEO in January 2003.[12] In addition to his career at Barnes & Noble, Riggio serves on the board of directors of the National Book Foundation, Association for the Help of Retarded Children and the National Down Syndrome Society. According to Forbes.com, in 2007 Riggio’s salary is $786,358 a year. He also earns $2,323,942 in other long-term compensation, for a grand yearly total of $3,110,480.[13]
Community involvement
College bookstores
Barnes & Noble in Lynnwood, Washington, using the 1992-1998 (exact?) logo sign. Barnes & Noble hires community relations managers to engage in community outreach. The responsibilities of these managers include organizing in-store events, such as author appearances, children’s storytimes and Barnes & Noble College Booksellers, Inc. is a privately held company, headquartered in Basking Ridge, NJ, controlled by Barnes & Noble’s chairman which operates bookstores at more than 600 institutions of higher education. The college chain is the owner of the Barnes & Noble trademarks, which are
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licensed without charge to the general bookselling chain. Barnes & Noble College Booksellers also operates the self-proclaimed "world’s largest bookstore," located on Fifth Avenue and 18th Street in New York City. This flagship 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. Barnes & Noble college bookstores accept Barnes & Noble gift cards and store-value cards.
Barnes & Noble
References
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[2]
[3] [4]
[5] Barnes & Noble History, http://www.barnesandnobleinc.com/ our_company/history/ bn_history.html#H3, retrieved on 2008-06-13 [6] St. John, Warren (1999-07-06). "Barnes & Noble’s Epiphany". Wired. http://www.wired.com/wired/archive/ 7.06/barnes.html. Retrieved on 2008-05-19. [7] http://www.barnesandnobleinc.com/ out_company/history/bn_history.html [8] Barnes & Noble Booksellers [9] Barnes & Noble Booksellers [10] Barnes & Noble Booksellers [11] "Summer Reading Challenge". Barnes & ^ "Company Profile for Barnes & Noble Noble website. Inc (BKS)". http://zenobank.com/ http://www.barnesandnoble.com/ index.php?symbol=BKS&page=quotesearch. summerreading/. Retrieved on Retrieved on 2008-10-03. 2009-05-08. According to the Spring 2005 EquiTrend [12] Barnes & Noble Booksellers Brand Study by Harris Interactive: [13] "Stephen Riggio". Forbes. Barnes & Noble Rated America’s http://www.forbes.com/finance/ Number One Retail Brand for Overall mktguideapps/personinfo/ Quality for the Fourth Year in a Row, FromPersonIdPersonTearsheet.jhtml?passedPersonId http://findarticles.com/p/articles/ Retrieved on 2007-09-18. mi_m0EIN/is_2005_June_21/ ai_n13824191, retrieved on 2008-06-13 Annual report for the fiscal year ending February 2, 2008 . • Book Stacks Unlimited Blair, Cynthia. "1917: First Barnes & Noble Bookstore Opens in Manhattan". Newsday. http://www.newsday.com/ • Barnes & Noble corporate website about/ny• Barnes & Noble retail website ihiny021705story,0,5026610.htmlstory. • Barnes & Noble at 18th Street Bookstore Retrieved on 2007-08-01. (flagship store)
See also
External links
Retrieved from "http://en.wikipedia.org/wiki/Barnes_%26_Noble" Categories: Companies listed on the New York Stock Exchange, Barnes & Noble, Bookstores of the United States, Music retailers of the United States, Companies based in New York City, Companies established in 1873 This page was last modified on 19 May 2009, at 19:09 (UTC). All text is available under the terms of the GNU Free Documentation License. (See Copyrights for details.) Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a U.S. registered 501(c)(3) taxdeductible nonprofit charity. Privacy policy About Wikipedia Disclaimers
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