Financial 411: Barnes & Noble and the Future of Bookselling
Wednesday, August 04, 2010
New York-based Barnes & Noble is up for sale.
The company started out with a store on 15th Street in Manhattan, and became a national chain after the store was sold to Leonard Riggio in the early 1970s. Riggio remains the largest shareholder, but he has been battling with another large shareholder, Ron Burkle, over corporate governance.
Meanwhile, the company has struggled with shrinking profits during the recession, as discount retailers like Walmart and Costco lure buyers with lower-priced books and at the same time, electronic books have become more popular. It's a problem confronting every brick-and-mortar bookseller.
WNYC's Amy Eddings talks with James McQuivey, principle media analyst for Forrester Research, about Barnes & Noble and the state of the book publishing and selling industry.