Barnes & Noble's retail head sells shares

Comments (13)
labarum wrote:

What goes around, comes around. Large bookstores like Borders and B&N drove many long established local booksellers out of business. Now Amazon has done the same to them. B&N tried to compete with their own internet service and e-reader but they likely failed for three reasons: 1) they were still saddled with “brick and mortar” superstores to finance; 2) they waited too long to enter the e-reader market; and 3) they saddled the Nook with all sorts of proprietary restrictions that did not allow it to take full advantage of the Android OS.

The Nook was as good an e-reader as was out there but when you place barriers for most customers, the product sales suffer.

Aug 27, 2013 10:53am EDT  --  Report as abuse
forgot0246 wrote:

I’m glad the economy is doing so well.

Aug 27, 2013 11:43am EDT  --  Report as abuse
forgot0246 wrote:

I’m glad the economy is doing so well.

Aug 27, 2013 11:43am EDT  --  Report as abuse
C.Nash wrote:

A lot of this has to do with people not reading – unless it’s trash like People, porno-monthly or Self magazine. Tear out the cable TV people. And downloading books just isn’t the same. It’s one rung below borrowing from the library.

In the entire western San Fernando Vally, (about 1 million people) there are no longer any book stores. All the Barnes & Nobles and Borders in the mall have long since closed. So a 20 mile trip to Burbank, Valencia or Calabasas is necessary. That is pathetic!

Aug 27, 2013 1:00pm EDT  --  Report as abuse
citizen0339 wrote:

Hedge fund manager William Ackman, the biggest shareholder in J.C. Penney Co Inc, said on Monday he had sold his entire stake after his campaign to overhaul the retailer failed. These guys must know something is about to happen.

http://www.reuters.com/article/2013/08/27/us-jcpenney-ackman-idUSBRE97P0TA20130827

Aug 27, 2013 1:09pm EDT  --  Report as abuse
TeddyBoy wrote:

“downloading books just isn’t the same. It’s one rung below borrowing from the library.”

Wow, look down on people much?

Seems to me if people are reading books in any format, digital or print, from online or a library it would be a good thing…

Guess you have to have a personal library of thousands of print books to be considered worthy.

In my experience, people who have e-readers read more content than those who read only print.

Barnes and Noble is going out of business precisely because they never carried a wider variety of books. You were always locked into the books that they deemed worthy of selling – this after the pushed local booksellers out of the market. That leaves an awful lot of good authors out in the cold.

Barnes and Nobel, to use your analogy, is the equivalent of cable TV. They only carried books that appealed to the lowest common denominator.

Aug 27, 2013 1:59pm EDT  --  Report as abuse
Indomitus wrote:

I think online retailers such as Amazon have taken a TON of business away from brick-and-mortar bookstores. I read a lot, and every so often I will take a half hour drive to the nearest bookstore if I feel like browsing . . . but 9 times out of 10 I will just place an order with Amazon from my living room computer. Often I will have to wait a few days for delivery, but I have a Kindle so just as often I can download my purchase as quickly as I could ring it up at the register in a bookstore.

I hate to see the old bookstores closing (but then again I hated to see the Edsel go down the tubes, too . . .)

Aug 27, 2013 2:56pm EDT  --  Report as abuse
HughHowey wrote:

C.Nash: It’s a downward spiral, isn’t it? No bookstore nearby means ordering from Amazon and having it delivered to your door. Which means fewer bookstores. Which means ordering from Amazon and having…

For those who read e-books, the delivery is instantaneous and the bookstore is in every living room and bathroom in the world.

Shops are finding it just as difficult to compete with this as music stores found it hard to compete with Napster and iTunes. The effect of digital is very real. Every mall had a 1-hour film developer, music shop, and bookstore just a decade ago. None of this should be surprising by now.

Aug 27, 2013 3:20pm EDT  --  Report as abuse
VascoDeGama wrote:

when all the big money people start dumping their stock at the same time what do they know that we don’t?…..♫ ♪ Well Meet Again, Don’t Know How, Don’t Know When♫ ♪

Aug 27, 2013 3:28pm EDT  --  Report as abuse
AmericanJoe wrote:

I hope they do not close, it’s a great place to go to hang out, read magazines and get coffee.

Aug 27, 2013 4:12pm EDT  --  Report as abuse
CherylinPgh wrote:

I too hope they stay open, although I usually just buy magazines and newspapers there and visit the café. I’ve seen online books thru the KOBO publishing service that I would have downloaded but they were only available for the Nook and no other android device and I couldn’t buy them because I have a Kindle Fire.

Aug 27, 2013 4:31pm EDT  --  Report as abuse
utahnews wrote:

Big Players are unloading stock from various retailers. You have the guy that got rid of his take in JC Penneys and now the head of B&N is getting rid of his. Kind of makes you suspect that good times are not on the horizon and people are cashing out, getting their money and running. Shouldn’t that be telling us something about the future?

If good times were on the horizon and the thought was stock prices were headed to the moon, company values were going to go up, hence stock prices were going up one would suspect they would not be selling.

Truth is the economy is awful and the only thing that might bring it out (I hope this doesn’t happen) is a good old conventional shooting war. Government spending goes up, Congress taps unlimited borrowing, energy consumption, oil, natural gas goes crazy because of the war time production kicking up, etc etc. “What?” you might say, “the US is broke.” True story but you don’t have to worry about borrowing when you know the bank that prints/backs the money, buys the bonds and people keep extending you credit.

On the other hand, war may collapse the already weakened economy.

Aug 27, 2013 4:46pm EDT  --  Report as abuse
EFerreira wrote:

It’s just a sign of the times – people don’t read printed matter anymore (I’m a graphic designer, and I’ve been having to retool myself, since people want everything digital nowadays). And as for the comment on J.C. Penney – well, not surprised. The last time I tried to shop there, it was just a little sad. And C.Nash – in case you visit this page again – there’s still a Barnes & Noble in Studio City. And the whole S.F. Valley is only 20 miles or so long, so at most, it’s a 10-mile drive to buy a book. And Calabasas *is* the west valley, and seriously, you’d go east to Burbank before you’d ever make the drive north to Valencia. So it’s bad, but not quite as bad as you might think. And driving down to the West Side might be an even better bet, depending on where you are.

Aug 27, 2013 4:54pm EDT  --  Report as abuse
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