Barnes & Noble

Barnes & Noble Booksellers

File:Barnes & Noble logo.svg Logo used since 2014
Company type	Private (subsidiary)
Industry	Retail (books)
Founded	1 January 1886 (1886-01-01) in New York City, United States
Founder	Gilbert Clifford Noble, William Barnes
Headquarters	New York City , United States
Area served	United States
Key people	James Daunt (CEO)
Products	Books, magazines, DVDs, graphic novels, gifts, games, toys, music, e-readers and tablets (Nook), publishing and self-publishing services
Owner	Elliott Management Corporation
Number of employees	Approximately 6000 (estimated from store count and layoffs) (2020s)
Website	barnesandnoble.com

Barnes & Noble Booksellers stands as the United States' largest bookstore chain by number of retail locations, operating approximately 600 outlets across the country. Its corporate headquarters are situated at 33 E. 17th Street in the Union Square area of New York City.

Despite numerous mergers and bankruptcies within the book retail sector since the 1990s, Barnes & Noble continues to be the sole nationwide bookstore chain in America. The company previously managed the B. Dalton chain of mall bookstores until its closure in 2010 and oversaw college textbook retail before spinning off Barnes & Noble Education as an independent publicly traded company in 2015.

The company’s operational approach focuses on expansive retail stores, many of which include cafés offering Starbucks coffee. Its diverse merchandise assortment encompasses books, magazines, DVDs, graphic novels, gifts, games, toys, music, along with its own Nook line of e-readers and tablets. Additionally, Barnes & Noble offers publishing and self-publishing services, enhancing its business model through a broad range of product and service offerings.

19th century: Origins

Barnes & Noble traces its beginnings back to 1886 with the establishment of Arthur Hinds & Company, a bookstore located at 4 Cooper Institute in New York City. That same year, Gilbert Clifford Noble, a Harvard alumnus from Westfield, Massachusetts, joined the firm as a clerk. By 1894, Noble had become a partner, prompting the store's rebranding to Hinds & Noble.

1900–1919

In 1901, Hinds & Noble moved their location to 31–35 W. 15th Street. By 1917, Noble had acquired full ownership by purchasing Hinds' share and entered into partnership with William Barnes, son of Charles Barnes. Shortly thereafter, the business adopted the name Barnes & Noble. Notably, Charles Barnes had founded a bookselling enterprise in Illinois that later became known as Follett Corporation after William Barnes departed.

1920–1939

In 1930, John Wilcox Barnes—William Barnes’ son—bought Noble’s stake in the company. Noble passed away in 1936 at age 72. Amidst the Great Depression in 1932, Barnes & Noble relocated its flagship store to Fifth Avenue and 18th Street; this location served as its main store until 2014. While the Noble family maintained a separate publishing business during this period, Barnes & Noble inaugurated its own publishing division in 1931.

1940–1959

By the early 1940s, the bookstore was among the pioneers to incorporate Muzak into its environment and underwent significant renovations in 1941. Expansion continued with new branches opening in Brooklyn and Chicago. Following William Barnes’ death in 1945, John Wilcox Barnes assumed complete control of the company. Throughout the 1950s and into the 1960s, Barnes & Noble further expanded by opening stores in Manhattan and near major universities such as City University of New York and Harvard University—aligning with a growth strategy focused on academic markets.

1960–1979

After John Barnes died in 1964, ownership transferred to conglomerate Amtel in 1966. Entrepreneur Leonard Riggio purchased Barnes & Noble in 1971 for $1.2 million and rejuvenated what had been a diminished wholesale and single-store operation. Amtel sold off the publishing division separately to Harper & Row. Under Riggio’s leadership, Barnes & Noble became the first American bookstore chain to run television advertisements (in 1974) and introduced a competitive pricing strategy by discounting bestsellers by up to 40% off list price (in 1975). The company experimented briefly with smaller discount outlets but ultimately concentrated on larger retail formats. It also launched a mail-order book division aimed at affordable reprints of out-of-print works to broaden its national market presence.

In November of 1974, Barnes & Noble’s Fifth Avenue location earned recognition from the British Guinness Book of Records as the world’s largest bookstore at that time—surpassing London’s Foyles—highlighting its expanding market influence and commercial success.

1980–1999

During the 1980s, Barnes & Noble experienced substantial growth by acquiring the B. Dalton bookstore chain, which was predominantly located in shopping malls, from Dayton Hudson in 1986 for an estimated $275–300 million. This deal included 797 B. Dalton outlets and laid the foundation for what evolved into a leading bookselling superstore by 1992, solidifying Barnes & Noble's presence as a nationwide retailer. By the end of fiscal year 1999, it ranked as the second-largest online bookseller in the United States. Some critics have attributed Barnes & Noble’s expansion to the decline of independent bookstores in local communities. The final B. Dalton stores ceased operations in January 2010.

In 1989, Barnes & Noble further extended its retail network by acquiring Bookstop, a chain consisting of 22 stores.

The company launched its initial public offering (IPO) in September 1993, raising $77 million on the New York Stock Exchange under the ticker symbol BKS. It remained publicly traded until August 2019, when Elliott Management acquired all outstanding shares and took it private.

Prior to launching its official website in May 1997, Barnes & Noble sold books through mail-order catalogs and earlier via an online service named Trintex, a collaboration between Sears and IBM. The public offering of BarnesandNoble.com in 1999 marked a pivotal moment in its digital commerce strategy.

2000s

Despite reports indicating a decline in book readership across America, Barnes & Noble reported growth within its retail book sector in 2004. Beginning in 1999, the company owned GameStop, a retailer specializing in video games and electronics, but divested it in 2004 to streamline its corporate operations.

In 2002, CEO Leonard Riggio stepped down and appointed his brother Stephen Riggio—who had previously served as acting CEO of BarnesandNoble.com—as his replacement. Stephen Riggio resigned from his position in 2010.

2010s

William Lynch, who was president of the company’s website, assumed the role of CEO in 2010 and spearheaded the introduction of Barnes & Noble’s digital bookstore and e-reader device known as the Nook, marking a strategic pivot toward digital offerings. Lynch resigned in 2013 and was succeeded by CFO Michael Huseby early the following year. After overseeing the spin-off of Barnes & Noble Education, Huseby left to lead that new entity. Ronald Boire was appointed CEO in 2015 but departed after just one year. In April 2017, Demos Parneros took over as CEO but was dismissed in July 2018 due to policy violations and removed from the board; he subsequently filed a wrongful termination lawsuit.

Following Borders’ bankruptcy filing in 2011, Barnes & Noble became the sole remaining national bookstore chain within the United States amid industry consolidation that also resulted in the closure of subsidiaries such as Waldenbooks and B. Dalton. Its primary brick-and-mortar competitor is Books-A-Million, while Amazon remains a formidable rival both online and through its physical retail locations.

Throughout the 2010s, Barnes & Noble reduced its store count, including shuttering its flagship location on Fifth Avenue early in 2014 and announcing plans to separate its Nook Media division from its retail business. In February 2018, it implemented layoffs affecting approximately 1,800 full-time employees to achieve annual savings of $40 million by replacing many with part-time workers at lower wages.

The company recorded a $17 million loss during fiscal year 2018. In July of that year, CEO Parneros was terminated amid sexual harassment allegations; Barnes & Noble accused him of breaching fiduciary duties and sought reimbursement for compensation paid during his misconduct.

On October 3, 2018, the board declared it would entertain acquisition offers for the company. Founder Leonard Riggio, who owned roughly 19% of shares, emerged as one potential bidder, triggering a nearly 30% surge in stock price.

In August 2019, Elliott Investment Management completed its acquisition of Barnes & Noble for about $683 million. James Daunt, managing director of Waterstones Booksellers Ltd. based in London, was appointed CEO for both companies and relocated to New York City. Under Elliott’s ownership, Barnes & Noble became a privately held subsidiary.

2020s

In March 2020, Barnes & Noble temporarily halted magazine sales and shuttered 400 of its 620 stores in response to the COVID-19 outbreak. After Elliott Advisors assumed control, approximately a dozen stores were closed permanently. CEO James Daunt implemented a centralized buying approach with smaller initial frontlist orders. The company broadened its offerings in 2021 by acquiring the stationery chain Paper Source.

By April 2022, Barnes & Noble utilized the downtime from pandemic-related store closures to renovate multiple locations, a strategy credited with enhancing both physical and online sales. During this time, sales of graphic novels and manga increased by as much as 500%, indicating evolving customer preferences.

In June 2024, through its subsidiary TC Acquisition, Barnes & Noble acquired The Tattered Cover, an independent bookstore chain based in Denver, for $1.83 million. The purchase preserved the brand name, store locations, and nearly all of the 70 employees, maintaining the heritage established by founder Joyce Meskis. The transaction received bankruptcy court approval in July 2024.

Throughout 2024, the company launched 60 new stores and revealed intentions to reopen a site in downtown Washington D.C. in early 2025, demonstrating ongoing expansion and revitalization efforts.

Publishing

Barnes & Noble maintains a separate publishing division alongside its retail operations. Originally concentrating on affordable reissues of out-of-print titles, this division grew significantly after 2003, achieving notable acclaim when Hippie entered The New York Times Best Seller list in 2004.

The publishing arm offers competitively priced editions such as the Barnes & Noble Classics, the leather-bound Barnes & Noble Collectible Classics series launched in 1992, and the Barnes & Noble Library of Essential Reading. Among its successful titles are The Gentle Art of Verbal Self-Defense, which sold over 250,000 copies, and the reissued The Columbia History of the World, with sales surpassing one million copies.

Growth through acquisitions included J.B. Fairfax International in 1999, educational publisher SparkNotes in 2001, and Sterling Publishing in 2003. In 2022, the division was rebranded as "Union Square & Company." In 2024, Barnes & Noble announced plans to sell Sterling Publishing to Hachette Book Group, signaling a strategic realignment of its publishing operations.

Food service

Beginning in 1993, Barnes & Noble partnered with Starbucks to provide coffee in all current and future cafés, enhancing its food service offerings. By 2006, Wi-Fi was available at every store and became complimentary for customers starting in 2009 to foster a more engaging shopping environment.

In 2016, the company introduced a strategic initiative to launch four concept stores in 2017 featuring expanded cafés with wine and beer bars alongside full-service restaurants offering breakfast, lunch, and dinner with waitstaff. These concept locations aimed to boost growth and increase market share by elevating customer experience. The initial stores opened in Scarsdale, New York, Edina, Minnesota, Plano, Texas, and Folsom, California. Further expansion was planned contingent on favorable financial results.

Community Engagement

Barnes & Noble appoints community business development managers to spearhead its outreach initiatives. Between 2015 and 2018, the Fairbanks, Alaska location donated more than $80,000 to local organizations via book fair fundraising events. To foster literacy among children in grades 1 through 6, Barnes & Noble organizes a nationwide summer reading challenge designed to promote educational growth and reading enthusiasm.

The Barnes & Noble Review

The Barnes & Noble Review, an online literary magazine hosted on Barnes & Noble's website, features book critiques spanning fiction and nonfiction, alongside essays, interviews, and a variety of other literary content. Established in October 2007 by CEO Steve Riggio and publisher James Mustich Jr., the publication includes contributions from esteemed critics such as Michael Dirda and Laura Miller, as well as notable personalities including political commentators Chris Hayes and Ezra Klein. Its editorial style is reminiscent of The New York Times Book Review, catering to a sophisticated readership. Early metrics indicated rapid growth, with unique visitors reaching 50,000 by December 2009.

While some questioned the publication’s editorial independence due to its corporate sponsorship, Mustich assured that the magazine maintains strict editorial standards free from commercial bias. Functioning as a strategic brand extension, the review enhances Barnes & Noble’s market presence through active engagement with the literary community.

Barnes & Noble Nook

Barnes & Noble Nook (stylized as NOOK) refers to a collection of e-book readers created by Barnes & Noble using the Android platform. The initial model was unveiled in the United States on October 20, 2009, and launched on November 30, 2009, priced at $259. On June 21, 2010, the company lowered the Nook's price to $199, introduced a Wi-Fi-only version for $149, and released a color touchscreen variant priced at $249.

Competing with devices like the Amazon Kindle, Kobo eReader, and tablets supporting reading apps such as Apple's iBooks, Nook models offer touchscreens ranging from 6 to 7 inches or larger. Version 1.3 incorporated Wi-Fi access, a web browser, dictionary functionality, and games. A distinctive feature called Read in Store allows shoppers to stream books for up to one hour while browsing Barnes & Noble stores. The color Nook debuted a 7-inch color touchscreen supporting both portrait and landscape orientations.

On April 30, 2012, Microsoft invested $300 million for a 17.6% equity stake in Nook Digital, valuing the business at approximately $1.7 billion. Later that year in November, technology media outlets criticized Barnes & Noble’s ebook licensing policies that mandated a valid credit card to re-download previously purchased ebooks.

In June 2014, Barnes & Noble revealed intentions to spin off its Nook Digital segment into an independent publicly traded entity; however, by 2016 Nook remained integrated within Barnes & Noble. That year also saw a collaboration with Samsung Electronics producing Nook-branded tablets—the Samsung Galaxy Tab 4 Nook 7.0 and 10.1 models were launched later in 2014. In December of that year, Barnes & Noble terminated its partnership with Microsoft by repurchasing its shares. Samsung and Barnes & Noble have continued jointly releasing updated Nook tablet models.

In March 2016, Barnes & Noble discontinued the Nook App Store and Nook Video services in the United States and closed the UK Nook Store; nonetheless, it continues offering ebooks and digital magazines within the US market.

In 2021, Barnes & Noble introduced a new Android-based tablet called the Nook 10" HD through a partnership with Lenovo, which handles manufacturing of the device.

Spin-off of college bookstores

Barnes & Noble once managed campus bookstores through its subsidiary, Barnes & Noble College Booksellers. In 2015, this unit was separated to form an independent entity, Barnes & Noble Education (BNED), dedicated solely to the higher education retail sector.

See also

• Book magazine, which collaborated with Barnes & Noble for 31 editions until 2003
• Book Stacks Unlimited
• List of book distributors
• List of bookstore chains
• List of group-0 ISBN publisher codes

Further reading

• Kirkpatrick, David D., "Barnes & Noble's Jekyll and Hyde," New York magazine, July 19, 1999
• Trachtenberg, Jeffrey A., "What's Barnes & Noble's Survival Plan? Former CEO Cuts Holding to 20%, but Says, 'The Story Isn't Written Yet'," The Wall Street Journal, April 18, 2014
• "The Rise And Fall Of Barnes & Noble," CNBC video, November 8, 2018
• "Barnes & Noble is splitting up its businesses (again)," Gigaom, February 26, 2015

External links

• Barnes & Noble SEC filings