The Demise of Barnes & Noble?

After losing $475 million dollars of Nook business in one year, Barnes & Noble fired its CEO, William Lynch. As CEO, Lynch tried to bring the company into the digital age, instead of focusing on its strength and the one area that is profitable for the company, their brick-and-mortar stores.

According to B&N financials, they operate 675 stores nationwide, as well as 686 college bookstores, and ninety-five percent of those stores are showing a profit. Yet Lynch publicly stated that “I don’t really read physical books that much anymore.”

Although the digital age is changing the face of books and publishing, it seems there are a significant amount of readers still making the trek to their stores. Lynch however, decided he wanted to sink money into the ill-fated Nook and Nook color which debuted only a few months before Apple launched the iPad. Even though the Nook Color was a good product, it wasn’t as good as the iPad.

B&N seems to have a history of being having horrendous business timing. They didn’t begin a website until 1997, a full two years after Amazon came on the Internet. They introduced their first eReader on September 11, 2001, and of course their Nook was upstaged and demolished by iPad. They also made a business alliance with Google where their App Store, Chrome operating system and Gmail would be pre-installed on all Nooks. Yet users couldn’t access any Google apps on their Nook device.

The company has been losing money for several years, and their have been offers from other media outlets, Pearson for one, to purchase the company. Microsoft does own 17% of Nook Media, and TechCrunch reported that they may make a bid for of nearly $1 billion to purchase the entire media company from B&N – but that is speculation.

B&N has not named a replacement for Lynch.

Even with Lynch leaving the top position with the company, many aren’t sure Barnes & Noble can be saved in this brave new world of digital publishing and instant access to books. Although statistically ebooks account for 20% of all book sales nationally, making print books still the number one way people read. With those numbers, perhaps B&N should concentrate on the area where their profits are coming from.

 

 

 

 

Similar Articles

Comments

FOLLOW US

2,025FansLike
3,238FollowersFollow
10,300SubscribersSubscribe

Recent Book Trailers

Instagram

Advertisment

Don't Miss

Candid Memoir by Grammy-Award Winning Rapper Lil’ Kim

0
Mary Ann Naples, VP and Publisher of Hachette Books, announced today the forthcoming publication of THE QUEEN BEE (Hachette Books, 11/02/21), by Lil’ Kim, with Kathy...

There’s a Book for That: Poem in Your Pocket Day

0
There's a Book for That: Poem in Your Pocket Day April 29, was Poem in Your Pocket Day! As a grassroots part of National Poetry...

BEHIND THE WORDS: AUTHOR JAMES R. HANNIBAL

0
Today, Behind the Words, welcomes author James R. Hannibal --- shh, an author with a spy background...... Let's start by telling our readers a bit...

SNEAK PEEK: AGAINST THE WILD BY KAT MARTIN

0
AGAINST THE WILD BY KAT MARTIN New York Times bestselling author Kat Martin combines the best of strong alpha males, gripping romantic tension, and pulse-pounding suspense,...

JOIN THE VIRTUAL IMAGINARIUM BOOK FESTIVAL!

0
IMAGINARIUM BOOK FESTIVAL 2021 We’re Going Virtual! Imaginarium Book Festival is delighted to announce the transition of the 2021 fair to a virtual event, to be...

SNEAK PEEK: ALL KINDS OF OTHER BY JAMES SIE

0
ALL KINDS OF OTHER BY JAMES SIE Two boys are starting over at a new high school. Jules is still figuring out what it means to...

Books to Celebrate Asian American and Pacific Islander Heritage Month

0
Asian American and Pacific Islander Heritage Month May is Asian American and Pacific Islander Heritage Month and this week—May 3 to May 9 —is also Children’s Book Week with...

2021 Joyce Carol Oates Prize Winner Announced DANIELLE EVANS

0
Danielle Evans, award-winning author of The Office of Historical Corrections (Riverhead) and other powerful, influential works of fiction, has been named 2021 Joyce Carol...

SNEAK PEEK: EMBER OF NIGHT BY MOLLY E. LEE

0
EMBER OF NIGHT BY MOLLY E. LEE I am a weed. Unloved by my abusive, alcoholic dad. Unwanted by my classmates. Unnoticed by everyone else. But I’d...

Great Books for Spring Gardening!

0
It’s almost ‘May Flowers’ time, and if Mother Nature is actually ushering in Spring where you are, our staff has a few book suggestions...