Barnes & Noble (Finally) Puts a Decent Quarter in the Books | The Motley FoolPublic Company Incorporated: as C. The company revolutionized bookselling by introducing giant, supermarket-style stores with deeply discounted books in the s, and by the early s it operated more than such superstores across the country. Dalton chain, and Doubleday, Bookstop, and Bookstar stores. The company also operates one of the top online bookselling operations, barnesandnoble. The Barnes family's history in the book business started in , when Charles Montgomery Barnes went into the secondhand book business in Wheaton, Illinois.
Barnes & Noble’s sale starts a new chapter for a troubled chain
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That makes sense, since the company had no real digital strategy and Amazon more or less froze it out of that part of the market. That left the brick-and-mortar chain as merely a way for customers to browse books before buying them on Amazon. Those customers never abandoned the chain, and while the mass audience may never come back, the company's latest quarterly earnings report shows that it might be able to survive -- and maybe even thrive. Same-store sales, however, rose by 1. The company noted in the earnings release that this reflected its "best quarterly performance in several years. But while the same-store increase is encouraging , it's not the chain's biggest achievement. Management attributed the decline to increased marketing and promotional costs.
Number of Barnes & Noble stores from fiscal year 2005 to fiscal year 2019
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But appearances can be deceptive. Perhaps this is what it means to be a bricks-and-mortar retailer in Not so much. Once the dominant player in US book retailing , the chain, which ironically in its time put countless private, neighborhood booksellers out of business, is suffering as the new big beast, Amazon , swallows its business. Sales have been on the slide for 11 years; even online sales have fallen. Dozens of stores have closed.