Barnes & Noble

[admin]

Harry Potter must’ve used his remaining PTO for the holiday season, as Barnes & Noble (-11.54%) blamed an 8% sales drop on the absence of a new book from the popular series. And despite promises of a rebound from CEO Demos Parneros, investors couldn’t overlook the glaring $30 million loss.

It’s nothing new for the struggling book chain, which watched shares fall 37% this year. But this could mean its final chapter in the public markets. 

Barnes & Noble is already attracting suitors to take it private, with Sandell Asset Management writing up a deal for $650 million. It declined...primarily because the deal meant taking on $500 million in debt. But how long can it keep stiff-arming fate?

As it stands, Barnes & Noble lost $345 million since 2010, nearly 120 store leases are set to expire each year moving forward, and non-book inventory has been sitting on shelves, gathering dust. 

Moving forward, Barnes & Noble has decided to “place a greater emphasis on books.” Certainly a compelling strategy for a bookstore.

Source

[James Thomas Rook Jr.]

I hope their on line presence is not diminished ... I get ANALOG Science Fiction/Science Fact magazine from them every month in digital form.