Barnes & Nobel will live on!
It’s 600+ stores, offering everything from coffee to books to various pop culture related merchandising options had new life injected today as Elliott Management Corp. purchases the company for $476 million dollars.
Barnes & Nobel has struggled in recent years as it has tried to compete with Amazon in book sales, recently shifted its strategy to one that rewards a consumer experience, including promoting its knowledgeable staff, as seen in their 2018 Holiday ad campaigns here:
Elliott Management Corp. has already issued a statement stating James Daunt, the current CEO of Waterstones a UK book retailer, which Elliott also owns, will serve the same position with Barnes & Nobel. Elliott says the brands will “share a common CEO and benefit from the sharing of best practice between the companies.”
The company managed to make over 3.6 billion dollars in sales last year alone, with outstanding debt not due until 2023.