HomeNews & PoliticsRelated VideosMore From: CNBC

The Rise And Fall Of Barnes & Noble

5803 ratings | 375562 views
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
Get embed code!
Text Comments (1692)
rassia and me (11 hours ago)
today me my sis and my mum saw a man fall over and have a seizure at barns and noble im still shacking
Sarina Pasag (13 hours ago)
This video makes me sad.
Einzigartige00 (21 hours ago)
I rarely go to Barnes and Noble these days. I prefer 'thrifting' books now. I usually go to Half-Priced books, 'antique' shops, Goodwill, Saver's, and sometimes when my local library runs a book sale I go there to buy a box full of books, movies, and music for $7. But if a book that I am looking for is nowhere to be found then I will, for sure go to a Barnes and Noble instead of buying online. Again, out of preferrence as I don't want to wait for a week or so for my package to arrive and it's less complicated on my end i.e. I won't have to worry about damaged package, loss or stolen and reporting it through another painstaking process. However, in purchasing college textbooks I definitely go somewhere cheaper or look for used books (Chegg is a very popular online textbook seller for new and used books and many more). Other times I would rent it in e-textbook form at Amazon (for some reason my college doesn't have a renting option for some books...it's really odd). Adding to that, I have a condition that hinders me from carrying heavy bound books so kinda convenient that ebooks exist.
Rey Perez (2 days ago)
It’s their own fault Books and everything is more expensive than any other place, no match up prices. I’m surprised people are still buying there .
Dante Allen (2 days ago)
Watching that on the crystal sharp display of a B&N Nook HD+ with a custom ROM working like a charm...
Brandi Burnett (2 days ago)
Thriftbooks.com is my favorite!
Edwige Duzi Toussaint El (2 days ago)
People started readin books about out give t telling the truth about American history and how a Moor named Pedro help Christopher Columbus land on the islan of Hispanola. Very old books tell truth about Moors/Americans/Aboriginal s
Zach Morris (3 days ago)
People don't see Barnes & noble as a place to buy books. They see it as a place to hang out, drink coffee and play on their laptop. You can spend all day at Barnes& Noble and not buy one book. It's just a place to hang out. That's how people see it.
Natalia Cruz (3 days ago)
Toys r us is gone but why Barnes and noble!
archana ravinuthala (3 days ago)
i thought this was the company man lol
Paul in Las Vegas (3 days ago)
I think Amazon's new bookstores are much smaller and more limited than Barnes and Noble. I love the magazine section and bargain books area. The overall energy and vibe of B & N is better, but Amazon is generally better online. Hopefully they can both coesist peacefully.
Julie (3 days ago)
Barbes and noble cost too much.... Thats what happened.
Jason Brown (3 days ago)
I only go there a few times a year. Barely anything unique anymore. No niche these days. Honestly, I've been having an idea for a new kind of indie bookstore. After seeing how corporate marketing changes small business, I can't imagine changing small town business for the venomous promise of a few big bucks.
Psychotic Bob (3 days ago)
I absolutely HATE ebooks! I loathe them with every fiber of my being.  And I HATE getting books shipped to my home.  I've been burned way too many times by Amazon, UPS, Fedex and the USPS.  I LOVE going into a physical bookstore and touching, feeling and smelling what I read.  Holding it in my hands and the physical act of turning the page.  THESE things matter.  To me.  And my wallet.   If there is light I can read a book.  If a book gets wet I can let it dry and still read it.  I don't have to worry about someone editing a book after its published or a book getting a virus making it unreadable.  Yes, books take up space but they are welcomed in my space and I would rather have my space filled with physical books than a variety of electronic gadgets that will only last a few years before they need to be replaced by newer more expensive gadgets that will only last a few years before THEY need to be replaced by newer...you get the idea.  LONG LIVE BARNES AND NOBLE!
Sam MacLean (4 days ago)
I do think it's sad people aren't reading really books eny more I hop they keep some of the books for the future.
christian myhre (4 days ago)
Years ago when StarBucks became political I stopped buying coffee there. I love drinking coffee; I would make it a point to buy coffee some where else just so I can drink coffee and browse.
Eva H (4 days ago)
Once agian they didn't chance same thing . falling be hind. They should get into the college text book and sell at lower price .
Jacquie Reign (5 days ago)
Barnes and noble is my place. Half of my paycheck goes to barnes and noble.
Tom R. (6 days ago)
Do one of these on Starbucks!
Vanquish Media (6 days ago)
Amazon happened, and very few people read novels.
Knit knit Hooray (6 days ago)
I love physical copies of books, but when I can get a $30 B&N book for $4 on Thriftbooks? It makes more sense to shop on for my hardcovers and paperbacks on there. :/ Everything is overpriced and overhyped in B&N.
Cecelia Wight (7 days ago)
Why buy when you can borrow? Yay public libraries!
Andrew England (7 days ago)
There’s still a Barnes and noble by me.new jersey.
PlankIsHere (7 days ago)
My barnes and nobel is still open a go there regularly
Givens Resumes (7 days ago)
What a pity! Nothing like a real book in your hand....I prefer it above those electronic readers.
MLLG49 (8 days ago)
Frozen Burrito (8 days ago)
Screw ebooks, man! Screw amazon! God, I love Barnes and Noble! That place is heaven for me! I’ve got a membership there which means I get sweet discounts! I’ll never give up on Barnes and Noble!
Oh Hey There (8 days ago)
Maybe it's because I have my own personal library, but I still buy books. Idk maybe its because I actually want the tangible object
Sierra S (8 days ago)
Fanfiction also happened lol
Milo Steinz (9 days ago)
What happened? Nobody (but the rich and lazy) is going to pay $30 for a book, that’s what happened...publishers have continued to raise their prices and customers continue to either try to find books at local used bookstores/thrift stores or give in and just buy it off amazon...lower your prices and we will come back...it’s so simple, it’s beyond pathetic corporations do not get it!
s a (9 days ago)
Canadians, support Indigo/Chapters. It is Canadian, doing well, has the same products as other companies like amazon for tge same prices, and allows them to continue to grow. Canadian business is important, let's support it 🇨🇦
katwolf85 (9 days ago)
They dont usually have all the books in a series even online so have had to go to amazon for certain books because i cant get them through barnes and noble
jermed2001 (9 days ago)
Am I the only person in the world who doesn't shop on Amazon?
Brett Lafleur (9 days ago)
Remember hitler burned books
Brett Lafleur (9 days ago)
That’s is I’m going to spend a grand because I love b and n
LuvGokunut (10 days ago)
I spend all my time at this store when I’m not at work. If B&N disappears, I will have a breakdown. Where else will I go??? THERE ARE NO MORE BOOK STORES!!!!! Amazon is not even close to being the same. I don’t want to sit in front of my computer or phone all day long to browse books. Ugh.
KTtraintowin (10 days ago)
I can not stand e books. Please keep actual books alive and support book stores.
Genti Malja (10 days ago)
Dinosaurs! 😂
Tay Smulders (11 days ago)
I love B&N and spending hours there and I would never give into digital books. But it feels like their books are getting more expensive
Person McPerson (11 days ago)
I’m a mixed media reader, so I read both from physical books and ebooks. I will never listen to audiobooks because I personally don’t like it, but that’s just me. I believe it’s unproductive and elitist to shame people who read from ereaders but at the same time it’s important to expose people to the classic physical feel of a book as well.
Slackman (11 days ago)
Once upon a time I found a book that was cheaper in store then online. In store the Book cost 120 Dollars and online it cost over 500 Dollars. It was a Marvel Omnibus that had been out of print for a few years, Titled "Annihilation".
Astro Boi (11 days ago)
I like books•a•million better
james harris (12 days ago)
The extra chromosome kicked in and people stopped reading is that so hard to comprehend movies tv phones tablets wait what’s this heavy moldy paper thing. Nope .
mls669 (12 days ago)
I'm a public library girl, I don't buy from amazon or a book store. People often forget about those.
Christina Marie Moneda (12 days ago)
Technology is key
Lewie (12 days ago)
I had a kindo and read a book off it. Turning a page is much easier than pressing that button. Good luck if you you want to look for something from previous pages. Forget it.
J Moore (12 days ago)
I get kindle books for free with prime plus websites. Have about 3k of books now. Very few duds.
J Moore (12 days ago)
Barnes and noble treat authors like crap too. Amazon will sell what they won't.
tawanna S (12 days ago)
I love books own over 200 and not a single one was bought at B&N, they're too expensive compared to online, and Half Price Book store, but I like going there and seeing what's new.
Heven demo (12 days ago)
We can find the books cheaper on amazon than at Barnes and noble. Though I still find stuff at barnes and noble that I cant online
Void (12 days ago)
I miss Borders
plutos orbit (12 days ago)
oh i don’t know, maybe it’s too expensive???
agentbl (12 days ago)
I happen to love shopping at Barnes and Nobel. I've been shopping there for a long time. My most recent visit was at a location in Union Square in NYC where I live. I love books. I prefer to read real books other than from a tablet. I like having the feel of a real book in my hand than from a tablet. I've read from a tablet before, but having real books is much better.
Leyna Kim Nguyen (12 days ago)
I really want a bookstore near me. The feeling of them. Just saying the word "book" is a comforting feeling. Although I hate those plastic covered paperbacks... Would prefer it to be just without it. Although if the price can be $2 cheaper online then nah. My family doesn't have a credit card that can be used with anything then food so I have to buy an Amazon giftcard. The limit I can find for the cards is $25, can't find any cards that are $10 or $5 just $25+. But the cards they sell are $25-$200 and the cashier inputs the amount you paid. And it's hard when I just want to buy one book at the moment since they cost around $11-$14 (Haven't added the tax yet.) .So I have to plan out if I'll have enough money left over to buy another later on, and if I'm $1 off I'll have to wait till I buy another giftcard. So that sucks. I'm interested in light novels so even if there were some bookstores there isn't a big chance they would include light novels, manga maybe but light novels a lower chance,
blgirl911 (12 days ago)
I couldn't use my Starbucks app to pay so nope.
David Ellis (12 days ago)
To Bad Borders didn't prevail.
Alexis Clinton (12 days ago)
I prefer physical books more than digital books. Sure the library has infinite expansion but really where’s the imagination?! That tingle in your fingers you get that makes you turn the page after you read the last paragraph?!
sharpaycutie2 (12 days ago)
What are you talking about i still go to mine. And Love it!
Mitchell Merck (13 days ago)
At some point,if you intend to be a mass marketer ...you have to consider price.the atmosphere of the barnes and noble is wonderful. The fact they compete with amazon on line should translate to the physical stores...in other words if requested, match the barnes and noble on line price.why not
Georgina Toland (13 days ago)
Half Price Books is the chain bookstore to go to now. ❤️📚❤️📚❤️
Georgina Toland (13 days ago)
Go down and stay down, B&N. You tired old dinosaur that treats staff like crap. Die die die.
Daisy Valentine (13 days ago)
Love Barnes & Noble!!!❤❤❤ Been going there since I was a child😊
Makita Andrews (13 days ago)
The books are pricey.
acajudi100 (13 days ago)
Readers are leaders. I ❤️💕 Books in all forms.
katakisLives (13 days ago)
Don't you guys have Waterstones?
Lala Lulu (14 days ago)
I go in the Barnes and noble to pick out the books I want and then go order them on amazon for the cheapest price. They should know people are doing this. They need to start price matching
Michael AP (14 days ago)
Some of the information in this video is not correct Barnes and nobles were selling music before Spotify was out or any streaming music service the only music service you can say that was out of the time was Napster when when Barnes & Noble was selling music cuz I used to buy music at Barnes & nobles sometimes they have really good deals. They also sold movies are VHS that's how long they've been in the media business so the videos timelines a little off their retelling of history in the wrong order.
Johnson Taylor (14 days ago)
There is still space for them to exist and thrive. Physical bookstores are growing faster. Their books on average however are more expensive than in any other place. They have to work on that.
Carlos Solorzano (14 days ago)
Is closing because the people that say that they love the store, only go there to sit and touch and read books but they don’t buy them . Don’t complain when your jobless and the only place hiring is amazon lol
NyanCat Prod. (14 days ago)
Miku IA (14 days ago)
I still go
The Wordy Woodstock (14 days ago)
Usually when things revamp and reinvent its brand in an attempt to widen the consumer base, things become counterproductive. B&N is more a novelty store now, with toys, gadgets, and other nonsensical commodities scattered around an intellectual environment. The message that elicits is dizzying and it turns me away completely, as the original purpose is sacrificed. When I was a child, chain bookstores sold books, and chain bookstores catered to one particular culture. You can't even enter a Books A Million store anymore without doing a double-take on whether or not you are in some kitschy mall store like Spencer's, where everything is T-shirts and adolescent bric a brac.
Purple Blossom (14 days ago)
If only they could sell the atmosphere of barnes and noble.. i cant picture a time without it
Sona Avakian (14 days ago)
Yeah I have amazon prime and audible so I pretty much am never going to need to buy any physical books. Even if I do it’ll be from amazon since their prices are way cheaper.
swill922 (14 days ago)
I like both physical books and ebooks. Ebooks allows me to have more titles readily available without the clutter. The one thing I dislike about publishing industry is that paperback copies are not released at the same time has hardcopies...for majority of new release. I hate hardcovers usually over the wait pretty quickly and order kindle copy.
Yuli (14 days ago)
I would just like to request more comfy stations with couches and outlets please. Thanks. 🤓
That’s Erica M Dassit (15 days ago)
I love Barnes and Noble BUT where they’ve gone wrong is their membership is incredibly expensive considering membership does NOT get you price matching with their own website, guaranteed two day shipping, any streaming partnership, or any preference in attending in store events. It’s great that they have cafés and have partnered with Starbucks at a lot of locations but what other value-added services can they provide? That’s the question they need to answer to stay around. There will never be experiences that will match cuddling up with a good book, that smell of a new book, the excitement of reading that book you’ve been anticipating since you finished the one before it in a series...
Caden Grace (15 days ago)
B&N's problem is that it has been run by a bunch of hippies in Ann Arbor MI. Years ago, when I had a seasonal PT job at my local, they sent a memo out corporate wide that halter tops, Daisy Dukes and flip-flops were no longer allowed for men or women - but only at the corporate office!!! The entire culture at this company is based on one formulae, puff-puff-pass and then roll the die on the next major business decision. The surprise is that they are still in business.
LaSophiaMichael (15 days ago)
Thats Bethesda!
franco f (15 days ago)
Amazon has amazing prices but what happens when they wipe out all brick and mortar stores not just bookstores? Will the prices still be good?
Wolfen LostSoul (15 days ago)
The Barnes & Nobles in my home town is thriving. Let's hope it stays that way.
Austen Van Sciver (15 days ago)
Barnes and Noble is still HOPPING where I live. The big appeal is that it has tons of books for everyone, books and toys to entertain kids, gadgets, comfy sitting places, various things like backpacks notebooks and writing utensils, and most of all STARBUCKS!
Jua'n Marque'z (15 days ago)
Jua'n Marque'z (15 days ago)
Lawless wisdom from saxon impersonating acts an il list of imigrants
Jua'n Marque'z (15 days ago)
It's not my real name what they clain my real name is classified private due to dilemma of being a victim child of eligal envious intentions as well crime pervertion
Jua'n Marque'z (15 days ago)
They're my 50 th greatgrandparents quite the obsession an absurd story an horror
Jua'n Marque'z (15 days ago)
as well my other aunt owns Starbucks my welch's farm provides they try to traffic me with un reasonable greatgrandparents look alikes as there frauded child of birth
Jua'n Marque'z (15 days ago)
It will re open legal an not employing scam imigrants with un seen essence of imigrants scam of go behind back a get them obsses with mixing eligal an criminal intentions bye I'll show legal evidence with authority that's legal not eligal comunist liers
Jua'n Marque'z (15 days ago)
My aunt owns imigrants of eligal human traffic got obsess with mt ethnic rare apperance an they were eligal comunist at bay
Brenda Kelley (15 days ago)
Amazon is cheaper and Barnes and Noble is too expensive
Jordan Ricks (15 days ago)
The people seem to forget the Barnes & Noble now has Kindles and other electronic sources and by the way not all of the book stores are closing down they make it sound so Dire of a situation I'm still the kind of person that likes to carry of paperback or hardback book now if I don't have the book on me then I will use my electronic source but I'm still old school in that way
M Soda (15 days ago)
I was a manager of a small new and used book there was no greater joy then sharing my love of books. I loved recommending books and having the person come back to tell me how much they loved it.
ravibobie 1028 (15 days ago)
candy girlll (16 days ago)
libraries, you forgot about google play book
スミコSumiko (16 days ago)
So..... That means Barnes and noble is going to die. AAAAAAAAAAAAAAAHHHHHHHHH noooooooii
LaProfetesse (16 days ago)
I CRIED WHEN BORDERS CLOSED DOWN. To me, *Borders* was and always will be the best bookstore in my opinion. I still remember going in there and getting the Twilight books during the Twilight era.
Evelyn M (16 days ago)
It’s way to expensive$$$
Sand Hill81 (16 days ago)
They need to have Puertorican food for free if you buy a book that is over price.
BB Unknown (16 days ago)
so many people i know will hands down pick an actual book over a tablet or get both if they want to listen to it - i dont care how digital we get but for a long long time we will have books because its the most comforting feeling to actually turn the paper page.
Corey Lucas (17 days ago)
I find people lazy nowadays that just want to order online. Band N is the best thing that has ever happened to me.