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Old 06-07-2019, 11:16 AM
 
Location: City Data Land
16,428 posts, read 9,921,783 times
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After losing more than $1 billion in market value in five years, hedge fund Elliott Management announced it is buying the company for $683 million including debt. The only thing that surprises me is the fact that they are still in business at all.

https://www.nbcnews.com/business/bus...z10pawdt-1K1vs
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Old 06-07-2019, 12:43 PM
 
Location: East Coast
3,857 posts, read 2,405,945 times
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Well, this will be the beginning of the ending chapter of B&N.

In addition, this puzzles me: "The company has said its prototype stores encourage shoppers to buy books online or from a tablet." Say what? If I've gone to the bookstore, I want the book in my hands. I decided to buy it, most likely, because it was there and I picked it up and looked through it and want to bring it home with me then and there. If I *still* have to order it online, or even through a tablet and wait to have it delivered to me, why wouldn't I just buy it from my couch on amazon? Why would I get a book at a bookstore if the book isn't there?
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Old 06-07-2019, 01:31 PM
 
Location: Maine
18,563 posts, read 22,358,418 times
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The same thing happened to Borders a couple of years before it finally went under.
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Old 06-07-2019, 04:55 PM
 
Location: City Data Land
16,428 posts, read 9,921,783 times
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Quote:
Originally Posted by chicagoliz View Post
Well, this will be the beginning of the ending chapter of B&N.

In addition, this puzzles me: "The company has said its prototype stores encourage shoppers to buy books online or from a tablet." Say what? If I've gone to the bookstore, I want the book in my hands. I decided to buy it, most likely, because it was there and I picked it up and looked through it and want to bring it home with me then and there. If I *still* have to order it online, or even through a tablet and wait to have it delivered to me, why wouldn't I just buy it from my couch on amazon? Why would I get a book at a bookstore if the book isn't there?
Exactly. The whole advantage of a physical store is being able to buy in-store. This is why many retail stores are having problems. They want to have it both ways. The shopper comes in the store to be told to "Go online and buy the item." Then they leave and buy it on eBay or Amazon.
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Old 06-07-2019, 04:57 PM
 
4,993 posts, read 2,487,764 times
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cash in your B&N gift cards now.
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Old 06-08-2019, 12:13 AM
 
Location: Pacific Northwest
2,355 posts, read 842,297 times
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I really like Barnes and Noble. Its a very clean and welcoming store in any city. Its also family friendly and a nice place to hang out. The nook also is fantastic, but I wonder with this buyout, if they'll still be supported.

Hopefully Barnes and Noble finds a way to keep the doors open, its one of my favorite places to go for an hour or two.

By the way, for the past few years many folks keeps saying their going to close, why? Don't you all like having a decent bookstore to buy books? Besides Amazon?

Last edited by Wintergirl80; 06-08-2019 at 12:24 AM..
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Old 06-08-2019, 05:11 AM
 
Location: The North Star State
2,897 posts, read 890,062 times
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Quote:
Originally Posted by Wintergirl80 View Post
I really like Barnes and Noble. Its a very clean and welcoming store in any city. Its also family friendly and a nice place to hang out. The nook also is fantastic, but I wonder with this buyout, if they'll still be supported.

Hopefully Barnes and Noble finds a way to keep the doors open, its one of my favorite places to go for an hour or two.

By the way, for the past few years many folks keeps saying their going to close, why? Don't you all like having a decent bookstore to buy books? Besides Amazon?
I do.

We have a very nice one in our town, and it's always full of shoppers when I'm there. The chains - Waldenbooks, B. Dalton, Borders, Barnes and Noble, etc. - have really been hurt by Amazon. The independent bookstores? Not so much. They were hurt by the rise of the chains in the 1990s, but now they're filling the niche left by the gutting of the mall stores.

https://www.cbsnews.com/news/once-en...booming-again/
https://whyy.org/articles/independen...cross-the-u-s/
As big chain bookstores struggle, independent booksellers in Spokane area and elsewhere enjoy a resurgence | The Spokesman-Review

Amazon hurt the chains because the chains offer inventory, inventory, inventory. Well, so does Amazon, and to a greater extent than a brick-and-mortar ever could. Also, immediacy. But with next-day-shipping and the ability to shop from home, Amazon has more advantages.

But the independent bookstore? It offers customer service but a local owner/operator. Amazon can't compete with that. Boutique businesses offer service. There's always a niche for that.
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Old 06-08-2019, 05:15 AM
 
7,757 posts, read 3,521,024 times
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Quote:
Originally Posted by turkeydance View Post
cash in your B&N gift cards now.
This is probably true.

When hedge funds take over a business, it might as well read the grim reaper is on their door step.
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Old 06-08-2019, 06:20 AM
 
Location: So Ca
19,366 posts, read 17,511,473 times
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Quote:
Originally Posted by chicagoliz View Post
.... this puzzles me: "The company has said its prototype stores encourage shoppers to buy books online or from a tablet." Say what? If I've gone to the bookstore, I want the book in my hands. I decided to buy it, most likely, because it was there and I picked it up and looked through it and want to bring it home with me then and there. If I *still* have to order it online, or even through a tablet and wait to have it delivered to me, why wouldn't I just buy it from my couch on amazon? Why would I get a book at a bookstore if the book isn't there?
You're in the minority, however. Many people browse at Barnes and Noble, sit in those chairs, buy coffee, go through books, then walk out. Apparently a lot of them want to see the book before they order it online.
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Old 06-08-2019, 06:25 AM
 
7,757 posts, read 3,521,024 times
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It will be a sad day if the Barnes and Nobles goes out of business in our town. It is a great place to buy and peruse books, to congregate, drink coffee and meet friends.


Try that with Amazon.
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