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The Rise And Fall Of Barnes & Noble

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Before Amazon challenged Barnes & Noble the brick-and-mortar bookseller was one of the most prolific American chains during the twentieth century. This holiday season could be the most crucial one of Barnes & Noble's history. Its sales have been in a decline for six years as the bookseller cedes market share to Amazon and consumers turn to their phones or portable tablets instead of books. There's been a revolving door in the retailer's C-suite, and activist investors have piled on. Now, Barnes & Noble is considering a sale of its business after receiving interest from a handful of parties, including its so-called modern-day founder and executive chairman, Leonard Riggio, and reportedly, U.K. retailer W.H. Smith. Barnes & Noble must prove it can deliver sales growth in its core book business this holiday season. The retail industry as a whole is expected to benefit from strong consumer spending, with the average American household expected to spend $1,536 through the holidays, according to a survey by Deloitte. That's up 25 percent from a year ago. If Barnes & Noble can't grow sales against such a healthy, economic backdrop, the company could ultimately head down the same path as its former rival Borders, or shuttered Toys R Us or Sears, which is in bankruptcy court. All things considered, Barnes & Noble is feeling "highly anxious" and somewhat "paranoid" this holiday season, Riggio told CNBC. "We've done a lot of things this year to try to put ourselves on the right track and to get our comp-store sales number to head in the positive direction, ... and we are hoping that that comes — we are planning for it to come — during this holiday season." The company will report its fiscal second-quarter earnings on Nov. 20, where it could say more about expectations for its holiday quarter. In September, without giving a specific range, Barnes & Noble said it expected "improving sales trends, positive comps during the holiday period, better gross margins, and continued expense reductions" for the remainder of the year. Analysts surveyed by Refinitiv predict same-store sales for fiscal second quarter will be down 1.75 percent, but then moderate in the holiday quarter, its fiscal third quarter ending Jan. 19, to drop only 0.25 percent. Last holiday season, the bookseller's sales tumbled more than 6 percent, with e-commerce sales also in the red. After the dismal results, the company slashed its staff. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Google+: http://cnb.cx/PlusCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC #Barnes&Noble This Holiday Season Could Seal Barnes & Noble's Fate As The Bookseller Considers Selling Itself
Category: News & Politics
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Text Comments (1945)
Arya Stark (9 hours ago)
Kudos to those B&N customer representatives! Mabuhay 🤘
Vision33r (9 hours ago)
It's not the price of books that is killing B&N, it's the internet replaced the need to buy certain books and literature. People use to buy maps and tour guides, no more. People used to buy how to books, these days people search online. People used to buy dictionaries, no more. A lot of top selling books are no longer needed because the smartphone and the internet replaced the need. I have not gone to a bookstore needing to buy many different books these days because I know I can ready it online or search it. Then there's entertainment, fewer and fewer people are reading for leisure. There are too many online activities to do other than read a book.
lemon (16 hours ago)
B&N is too expensive, and their sales still aren’t good. I buy all my physical books from amazon cuz it’s much, much cheaper and I can buy used books from there. Also, there’s this thing called a library...
Victoria Serra (1 day ago)
Online shipping is the dumbest thing. You pay upfront and you will have to wait several days. Lucky you if your order doesn't get screwed for some unforeseeable reason. People these days are such lazy asses. Brick and mortar establishments such as bookstores shouldn't be a thing of the past. It's good for a lot of reasons. B&N holds events for kids to get them out and interact with real people.
Valia Ryan (2 days ago)
I ONLY heard of Barnes and nobles AFTER Borders closed all their stores.
CM V (2 days ago)
Barnes and Noble isn't going anywhere. E-commerce represents only 13% of all retail commerce.
DL Lambert (2 days ago)
Public library locations 🏢🏫 & book sellers will slowly drift out. I'm not against it. Paper & book production creates a lot of waste-pollutants. Chemicals, wood, etc. Many of these stores or places are large. Which takes power 🔌💡.
DL Lambert (2 days ago)
Orlando FL has a few big B&Ns still around. The largest was on East 50, Colonial Dr area. 📚📖☕. That location was a haven for downtown bums, dirty street people, wierdos. The store had tables & lounge chairs for customers but after 2010 or so they got rid of them due to homeless bums sit in the AC buying drugs or sleeping. 💤🛌💊. I worked there briefly doing uniformed security. The mgr & staff were not very friendly or professional. 😐
nathan painter (5 days ago)
please do a rise and fall of NBC...that's why they came to youtube!
Konata izumu is best girl thats it (5 days ago)
My and my weeb friends to go by manga
Anselmo Chavez (7 days ago)
Wow! I’ve never seen a book with my own eyes. I thought they were a myth.
TU nguyen (7 days ago)
Buuhuuuu me so sad rip funcoland an games toy us circuit city blockbuster wall Mart Mervyn sears Montgomery ward sear k mart waldenbrook Sam goody suncoast macy Foley filense world trade center and gradma
60zeller (8 days ago)
I pull for BN but they are in all likely hood doomed
klfmc rjn (9 days ago)
Ok, b&n was like a piece of heaven here on earth for me... this was second home for me, this is were I came across sop many amazing reads, were I spent countless hours of fine latte and enjoyable readings.. not to mention that I also met some beautiful and wonderful women too. Will love forever b&n.
Shiv Zor-El Potter (9 days ago)
AAAAAAAAHHHHHH
Comic Guy (10 days ago)
There were no girls in bikinis, why am I watching this? :)
David Badiola (10 days ago)
2:34 Staten Islandddddd
The Earth is Round (11 days ago)
Buying books and reading books are two different things.
SharaRanks (11 days ago)
Get with the times and get a kindle
The Earth is Round (11 days ago)
I think you missed the point of the video.
Vanessa Daniels (12 days ago)
There's nothing like a good old hard/paper back book.
Sophia Writes (12 days ago)
Make it cheaper
Bo Cowan (13 days ago)
They should focus more on the high end exclusive copies, that’s where their strength lies
Bob Rees,Jr (13 days ago)
I have 21 books published by the print on demand publisher. Press.Barnes&Noble.. I also use KDP/Amazon.
p3rs0nn (13 days ago)
noooooo i love barnes and noble
P Gaven (13 days ago)
The Kindle Happened...and space is and has always been a premium for people. It was evolution...from the lightweight compact paperback...to present day epubs, cbr, cbz, mobi and pdf formats to name a few. I live in an apartment and can barely afford the space as it is ..and as a veteran I can attest to the advantage of having books as files to carry on my phone in an app or memory card as opposed to an unwieldy paperback or two in my rucksack.
Christina Marin (13 days ago)
My 4year old loves Barnes and Noble. I try to buy books from them vs online. however I wish they pricematched!!
Christopher Motte (13 days ago)
I've always been a Barnes & Noble fan, I went as much as possible, but B&N are just too big, no intimacy they removed all the chairs so people can't sit down and fall asleep in them like they use to, I don't like starbucks. Yea I can why they'd be going down.
Kit Coffey (14 days ago)
Amazon alternatives: (I get no $) - Powell's - Abebooks - half.com - your local Goodwill or Freecycle - your local Little Free Library others? The publishing industry is just as much to blame. Cutting proofreaders, putting out more and more of the same (no risk-taking or encouraging new voices) and raising prices, and then they wonder why people choose digital media instead.
Nicholas Pipitone (14 days ago)
There is every opportunity for B&N to succeed but I've gone several times and every time I've left empty handed. When I was grocery shopping at Costco however, I found they had a book section and immediately bought 7 books because they were all amazing - their entire selection was absolutely perfect. I searched B&N up and down for anything interesting and it just, there wasn't much. Most of their books are bland.
Kit Coffey (14 days ago)
What I love about B&N most is its *unlocked restrooms*. Indies, don't lock your restrooms, thanks.
Kit Coffey (14 days ago)
Support your local independent bookstore whenever possible!
James Fitzgerald (16 days ago)
The main problem I have with Barnes and Noble is there prices they're just too damn high compared to Amazon or Ebay.
Frank Romero (16 days ago)
Borders was another store that many people use to buy books as well.
M. Miller (16 days ago)
They got too expensive, half-price books is better!
Emily Burt (16 days ago)
I hate digital books and audio books, book stores are 10000x better than Amazon! I actually went to Barnes & Noble yesterday lol
JuanFernando Gracia (17 days ago)
I really think people still reading paper books instead of kindle editions What happened was Amazon, they sell cheaper and have more books, I love going to barnes and noble, but before buying something first I check the price on Amazon, most of the times I end up not buying in barnes and noble and instead using Amazon
The Seal (18 days ago)
How are they supposed to compete with Amazon exactly? Amazon loses money on the books they sell, if B&N wanted to go out of business they'd sell books at those prices too lol Amazon just wants to put every other company out of business, literally
Pickie (18 days ago)
B&N is just awful as they refuse to even price match their own websites prices, and when you have to pick up a book in-store on online orders, you have to pay in-store price. They cannot solely blame Amazon when they're so damn anti-consumer.
Daniel Nadtochaev (20 days ago)
0:47
Roman Reigns (20 days ago)
books for ever...I love going to book stores
STEFAN MARKOV (20 days ago)
The real killer of Barnes & Noble wasn't Amazon but Books-A-Million which took the throne and is becoming the largest bookstore company in the USA
jason royale (21 days ago)
worked there 20 yrs. people under 50 don't read.
이은굥 (22 days ago)
거의 망했다고 보면됌 마케팅다운 마케팅도 전혀안하고 그냥 망했음
Christopher Zavala (22 days ago)
I love Barnes & Noble! I don't want it to go away! :'(
Ray Martin (23 days ago)
Boarders was a better store.
BLacKNesMonsTaz (23 days ago)
I remember seeing bibles and explanations of it under the fiction section on 14 street Manhattan. In Florida it's under religion. So I guess who ever is running it is responsible? But it left a bad taste so i stop going there.
Ed Fulginiti (23 days ago)
I'd hate seeing B&N go under... lower prices MUST happen... and more reading rooms, coffee chair comforts through the store.
Tre' Roney (23 days ago)
When you can get the same book at a significantly cheaper price, and get it online, then why would they stay in business? I love B&N but I only go their for the experience and haven't bought a book from them in years
Joseph Barney (24 days ago)
To me, and I'm not arguing with others, but for me the prices are fine at Barnes and Noble. I've been shopping there for years and used to get all paper books but now I get mostly digital plus I have a membership. I also bought a Nook at the closest one to my house. I dunno about anywhere else but the Barnes in my state, Utah, all seem to be thriving. In fact at the closest one to my home it's a pain to try to get seating in the coffee shop area. And the Nook section has chairs and is full and has stuff for sale still. There's plenty of sales and whatnot. I prefer the convenience of in person rather than paying monthly for prime which is like paying for world of war crap. I feel forced to play/buy more. I don't want to wait several days for my book or item. Plus ever use an actual Kindle? It's inferior to a Nook at least the Samsung versions. The Kindle has no access to the actual Google Play Store. It's more limited. Plus there's the warehouse conditions of Amazon. It's not as bad as Foxconn but it's bad. I'd rather support Barnes since Amazon is the Facebook of bookstores/online retailers.
Joseph Barney (24 days ago)
And the Amazon phone? And the echo privacy concerns are as bad or worse than Google's. At least Google is getting into medical research using AI. BTW the Amazon phone, yes they made one, was a flop. I think they had another flop but I don't remember what it was.
Joseph Barney (24 days ago)
Oh and my Nook has GPS because it's made by Samsung. Offline maps anyone? And full access to the Google Play store. And I've owned a Kindle. Half the apps are crappy. I wonder if the quality has improved but I heard the quantity hasn't. And the Kindle OS is Android on training wheels. I'll take Barnes any day.
Maurice Hamilton (24 days ago)
This gives me heads up to grab all the collectibles I can. They will be worth something if not for me my family
Joe Gantz (24 days ago)
NBA. Where Amazing Happens. USA. Where Amazon Happens.
Lady J Book Nerd (24 days ago)
Where are all my booknerds at!!! 🖐📚📖
Anita Tran (24 days ago)
They have lit blind box toys and action figures
delirous8 (25 days ago)
I prefer paper books and the experience of going to the bookstore and shopping for books as well as the enivronment of being surrorunded by booknerds. However B&N needs to start selling more bargin books as well as improver their inventory. Borders had more inventory the B&N.
Dallas_Denver90210 (25 days ago)
They should have had a “used” or “dollar books” section that’s the only thing I can think of that differs it from amazon also match prices not that hard in retail to price change or have a manager approve a price change.
Rui (25 days ago)
NOOK app isn't available on Google Play Store. So I can't buy nookbooks
Brandon Dalton (26 days ago)
They actually repurposed an old gym nearby me and put a Barnes & Noble in. It’s pretty cool to see bookstores making a come back. :)
Rawk Hawk (26 days ago)
I'm an employee at Barnes and Noble and yeah, the prices are the problem. Even when I want to buy something with my discount I can usually find the same thing for cheaper on our website or on amazon. Heck just the other day I went in to work to buy a few Studio Ghibli blu-rays and they were twice the price of what they were on amazon and all I had to do was wait two days.
electra heart's german shepard (27 days ago)
i love barnes and noble- nook and amazon will never take it away from me , because of that sweet sweet... new book smell
Steven Shin (27 days ago)
Amazon will prob get one of these videos in the future too, its just a cycle
michelle jernigan (28 days ago)
I would had book in hand then a machine in hand books is more fun !!!
sherrie sprayberry (29 days ago)
They are trying to move everything to cashless society putting micro chips in and watch every nickle you spend .They will offer you a beast chip later.
Prada D (29 days ago)
Given the option, I will always choose a physical book, the only downside is the environmental damage of using papers to print. But when a book retails for 10usd, and an the same ebook, which is conveniently accessible and retails under 5usd, I'm forced to go for an ebook. Even news papers are going digital- so B&N needs to work on digitalizing their platforms to make it competitive..
Scott Bertrand (30 days ago)
I just recently left my job at Barnes and Nobel and I can say without a doubt their business model is flawed. They need to hire more component management and stop trying to push non book related stuff. Scale down a bit and double down on the bookstore experience that people love. And for the love of god, update the online store and price match with your own website.
Its—Me Anthony (30 days ago)
I loved Borders and Barnes&Noble.
Dioxholster (30 days ago)
I don't think there is anything they can do in this space, I'm surprised they haven't switched to something else.
Molly Godlewski (1 month ago)
Part of me would die if Barnes & Noble closed...
Mr. Wright (1 month ago)
I don't buy from anywhere, honestly. I just get the books i want from the library.
Mr. Wright (1 month ago)
Amazon will never completely put them out of business b/c at their core, people don't care for the way they treat employees. B and N just need to eat the front end loss and get more people in their stores.
Mr. Wright (1 month ago)
All they need to do is lower prices on their books. Eat the costs and form a competent online/tablet reader platform.
orangemiranda (1 month ago)
I liked borders better
Aritzbel Parra (1 month ago)
💔
Daniel Stevanoski (1 month ago)
Pocket book series is needed because people are never home... working long hours pocket books at break time
Greg (1 month ago)
What happened? The internet happened.
Ann Barnes (1 month ago)
I love Barnes and Nobles and I miss the real book stores I miss having books in the book stores and everything is on computers now or on your telephone or on your laptop or your iPad I miss the real book stores maybe one day they'll come back 😊😊😊😊😊😊😊😊😊😊😊😊
Manny10EDLS (1 month ago)
There’s nothing like a classic book, I like reading on my phone when I can but that feeling of holding a physical book is amazing. B&N need to have cheaper prices.
Mommy Garcia (1 month ago)
Lower your prices B&N maybe that would help !!
J.R Smith’s Henny Bottle (1 month ago)
Amazon happened
Paul best (1 month ago)
amazon offers used bks, every/any book you want, at rock bottom prices, B&N has maybe 100K bks in a store, amzon has millions, Do the math. Now for furniture, wayfair has soe good deals, but for large furniture, its a huge gamble buying online wayfair, much better to go roomstogo,,sure wayfair has 10X's the selection as romooms togo,,but honestly roomstogo has a white fake leather sofa for $600 which wayfair does not offer, PLUS if you do not like the sofa from wayfair once arrives,,how are you going to return it??? can't. U R stuck. For lamps, lamps plus is THE ONLY WAY TO GO, Lowes/home depot has maybe 100 lamps, Lamps plus has K's. For vanities wayfair is the ONLY PLACE to shop. So there is a small market for stores, still, buta larger market for online. Malls are dinosaurs. Why buy Guess at the mall, when you can get it shipped free to your home...sure at the store you can try it on, for looks/size compare. I agree, buying clothes online is a risk. So that's a toss up. In 100 yrs there will not be malls. just unique shops offering, this and that.
Count Rostov (1 month ago)
Just heard they issued an earnings warning for the holiday quarter. I hope they don’t resort to closing more stores. Young people need a safe space where they can hang out and study. :-(
I G (1 month ago)
B&N the looney left favorite book store.
none02910 (1 month ago)
They don't have sales,they want you to "buy" a membership in order to save for which you won't getting $2.50 knocked off a $25.00 purchase if you had the membership.Borders never did that and you actually saved,only thing that saved Barnes &Noble was their iPad other than that they should have been the ones to go belly up,they don't keep up on the titles of the books I read & collect and usually I do a preorder on amazon for my books and even with s&h I can still see a big difference in price.i am not going to tell Barnes & Noble what they need to change,that job belongs to a overpaid CEO that should know his job......
Carlos Monroy (1 month ago)
I used to go there. Makes me sad. I had a good time at Barnes and Noble.
Akshay SG (1 month ago)
Amazon happened ......But tbf Barnes and Nobles did the same to the small business bookstore ...I know a few local ones who had to shut down in early 00's because it couldn't compete with B&N
Jayden B-J (1 month ago)
It’s amazons faul
Elizabeth Davis (1 month ago)
They need to focus on being a destination more than a retailer. People love being in their stores and they should play up that side of their business model. Maybe expand the cafe with larger tables and more comfortable chairs or booths, host gaming tournaments (board games or video games), etc. #bringbackthearmchairs
Gypsy Magic (1 month ago)
BARNES & NOBLE LOST TOUCH WITH IT'S ORIGINAL CORE IDENTITY & CUSTOMER BASE A LONG TIME AGO IN FAVOR OF AN ANTIQUATED STOIC, PURELY CORPORATE "PROFITS OVER PEOPLE" PHILOSOPHY & BUSINESS MODEL. AS SUCH, THEY ALONE ARE SOLELY TO BLAME FOR THEIR CURRENT ECONOMIC STATUS. AMAZON IS NOT NECESSARLILY A BETTER COMPANY PER SE, BUT THEY HAVE SURELY ADAPTED WITH THE TIMES - AND THEY KNOW HOW TO TREAT THEIR CUSTOMERS RIGHT! SUMMARY: SHAME ON B&N. THEY WILL BE GOING THE WAY OF BORDER'S SOON - AND DEFINITELY DURING THE NEXT RECESSION SHOULD THEY MAKE IT THAT FAR!
camille (1 month ago)
whattt i love barnes and noble, i didn’t know it was in such a steep decline 😭 the ones where i live are always crowded!
?,?, (1 month ago)
It happened coz ignorant Americans don't read .
Bill Z Jr (1 month ago)
I love the place and I hope they can survive but their current business model doesn't seem to lend itself to survival. as others have stated, people see it as a place to hang out and have a cup of coffee and work on their computers rather than actually purchase anything. I personally love the magazine section. they have a membership club wear for $25 a year you can get 10% off which is kind of a joke because even with the 10% discount you're still going to be paying about 45% more than buying the book brand new on Amazon. They just simply need to lower the prices or make the membership a little bit more appealing.
LilannB (1 month ago)
There was a time I used to love just hanging out in books stores. Mostly Borders but also B&N. Then Amazon happened. I haven't set foot in a physical bookstore in years. Physical books I buy come primarily from Amazon and lately I am buy more and more digital books for my kindle.
Brian C (1 month ago)
I have a Barnes and Noble books in my town and it's always crowded and busy
ChakraKhan (1 month ago)
I hope they don't close it's a shame borders closed
sa65cn1 (1 month ago)
I loved Barnes and Noble, I worked at a large store in 2006, putting the store back together after hurricane Katrina. Mr. Reggio even came to New Orleans and built homes for some people who lost everything in the storm. What happened!?! It was large but homey and comfortable.
Z Jones (1 month ago)
I have 2 young kids and if we are out and see a bookstore they still like to go in and pick out a book but once they get older I don't think they will want to anymore. The physical bookstore, and eventually the physical book, are dying.
Gaby Munoz (1 month ago)
Toooo expensive is the problem. At least for me it is, the amazing quality Amazon has is that you can buy the same book for 30%-70% cheaper from retailers and people selling their old books. I feel like a headass walking into a Barnes and Noble and spending unnecessary 💰
Neighboring Yuman (1 month ago)
I thought this was a company man video by the title for a minute there
Stephen Szymanski (1 month ago)
I'll never forget when I wanted to buy a book and it was cheaper on their site. I asked at the store if they would match their own site. The employee said no. I laughed. I left and never went back to one.
E.C. Mann (1 month ago)
I just pray that the Barns and Noble near my house doesn’t close... I don’t know what I’d do.
EdgedShadow (1 month ago)
I go to B&N ever week or two, but hardly ever buy anything aside from clearance books. They have a nice selection of Public Domain books in nice bindings for low prices.