The sale, valued at about $683 million including debt, is targeted to close in the third quarter if approved by regulators and shareholders.Īfter that remains a long road to recovery, if that’s even possible. Waterstones organizes multiple, simultaneous events at its stores, making them “a “fun place to discover books and enjoy the particularities of a bookstore.”Įlliott will pay $6.50 for each share of Barnes & Noble, an approximately 9% percent premium to the company’s Thursday closing stock price “What works in Jacksonville, Florida, isn’t necessarily going to work in Hawaii.”Īnd he sees advantages for Barnes and Noble in the fight with Amazon, where the customer interaction is limited to buying things online. “In chain bookselling, you need to try and get the best store for each location,” Daunt told The Associated Press. His main goal is to have each Barnes & Noble store be more tailored to the local market, rather than operate as a massive homogenous chain. To reverse that decline, new CEO James Daunt will try to replicate what Waterstones has done in Britain. Its revenue peaked in 2012, and it has fallen every year since. as of last year, it is smaller than when it acquired of B. “I’ve been quoted as saying that it’s in the long-term interest of the overall book business that Barnes & Noble not just survive but grow and prosper.” “Today, we stand together in common cause to promote and support bricks-and-mortar bookstores,” said Teicher. Teicher heads the American Booksellers Association, the group representing independent book shops, and a bitter rival of Barnes & Noble. Last year, Riggio was brought on stage by Oren Teicher for BookExpo 2018 in New York City.

The company has cut into sales of both Barnes & Noble and independent book sellers alike.

The company tried to ride the digital transformation of books, rolling out its own e-reader, the Nook, in 2009 and offering more than a million books on its website.īut, which began as an online market place for books, was relentless and its Kindle e-reader is dominant today.

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