Barnes & Noble
Headquarters:
122 Fifth Avenue
New York, NY 10011
Employees: 37,000
CEO: Steve Riggio
Stock Symbol: BKS
Website:
http://www.barnesandnoble.com
Career Site
Barnes & Noble is the world's largest bookseller with 774 bookstores in all 50 states. As of August 1, 2009, the company operated 724 Barnes & Noble stores and 50 B. Dalton stores.
Barnes & Noble superstores average 25,000 square feet and carry up to 200,000 titles. The stores feature a large selection and comfortable settings, including lounge chairs and reading tables. Open seven days a week, the stores also carry wide selections of music, DVD/video titles and magazines. Barnes & Noble is the third largest retailer of magazines in America, carrying about 5,500 individual titles.
Barnes & Noble stores offer cafes that sell coffee in a partnership with Starbucks, making it the country's second-largest coffeehouse. Stores now have free Wi-fi Internet access through AT&T.
Barnes & Noble is also a leading book
publisher. The series Barnes & Noble Classics sold over
500,000 units in its first year of publication. In January
2003, the company acquired Sterling Publishing, a leading publisher
of books for enthusiasts with over 5,000 active titles in the
areas of how-to, reference, cooking, home design and health.
On August 10, 2009, the company announced that it has signed a definitive agreement to acquire Barnes & Noble College Booksellers, which was a separately owned comapny. The acquisition is expected to close on or about October 1, 2009.
In 2008, the company reported revenues of $4.52 billion with net income of $75.2 million. Sales were down 3% from the previous year.
History
Barnes & Noble's beginnings can be
traced to 1873, when Charles M. Barnes started a book business
from his home in Wheaton, IL. In 1917, his son, William,
went to New York to join G. Clifford Noble in establishing Barnes
& Noble. During the height of the Great Depression,
what later became the Barnes & Noble flagship store was opened
on Fifth Avenue at 18th Street in New York City, where it still
resides today. This store developed a worldwide reputation for
excellence by serving millions of customers with its comprehensive
selection of general trade books, academic titles and textbooks,
and medical books.
Leonard Riggio, the company's current chairman,
began his bookselling career while attending New York University
in the early 1960s. Working as a clerk in the university
bookstore, he became convinced that he could do a better job
serving students, and he opened a competing store of his
own. With a small investment, Mr. Riggio established the
Student Book Exchange (SBX) in Manhattan's Greenwich Village
in 1965. The store quickly became one of New York's finest
bookstores, known for its knowledgeable staff, wide selection
and great service.
By the 1970s, Mr. Riggio's thriving business,
which included six other college bookstores, acquired the flagship
Barnes & Noble trade name and flagship bookstore in Manhattan,
which had fallen into decline. Within a few years, Mr. Riggio
transformed the Fifth Avenue store into "The World's Largest
Bookstore," with 150,000 textbook and trade titles.
Mr. Riggio's commitment to students continues today through Barnes
& Noble College Booksellers, a privately held company that
operates more than 500 stores on college and university campuses
across the United States and in Canada.
The company went on to acquire the B. Dalton
and Bookstop chains. In the 1990s, the company refined its strategy
and developed the superstore concept which makes up 96% of company
sales today. The company launched its own Internet site in 1997
and now has one million books for sale online.
Benefits
Barnes & Noble offers medical insurance
coverage to both full- and part-time employees as well as a generous
401(k) plan. Workers get a 30% discount on books. Here are other
benefits provided:
Health Benefits
Major Medical and Hospitalization
Vision Care
Preventive Care
Well Baby Care
Dental Care
Financial Benefits
Life Insurance
Business Travel Accident Insurance
Short-Term Disability Insurance
Long-Term Disability Insurance
401-K Plan with Full Vesting
Other Benefits
Vacation Days
Personal Days
Tuition Assistance
Book Loan Program
Merchandise Discounts
Transit Benefits
Updated September 18, 2009
|
