Current:Home > StocksHow Barnes & Noble turned a page, expanding for the first time in years -DataFinance
How Barnes & Noble turned a page, expanding for the first time in years
View
Date:2025-04-18 01:54:27
The ghost of Barnes & Noble past meets the spirit of Barnes & Noble future in a single shopping center in a suburb of Baltimore.
The new store in Pikesville, Md., separated by half a parking lot from its shuttered predecessor, is part of an unlikely plot twist: Barnes & Noble is staging its largest expansion in over a decade.
After years on the brink of extinction, the book chain is planning to open some 30 new stores this year. Many are returning the retailer to areas it previously abandoned. In a few, Barnes & Noble is even taking over former Amazon bookshops.
The retailer hopes this will turn a new leaf. Barnes & Noble sales have been rising, and last year grew more than 4%, according to Shannon DeVito, director of books.
"What has changed is, I think, my hope that we're going to be here for decades and decades and decades now," she says.
The biggest change borrowed from indie bookstores
Barnes & Noble's collapse spanned the 2010s: The archetypal big-box villain ravaging independent bookstores eventually became lunch for Amazon. Its online store lagged behind, while its physical stores got overrun by gadgets, blankets and trinkets in pursuit of any kind of sale.
In 2019, Barnes & Noble was bought out by a hedge fund, often a perilous development. But this buyout brought along a new CEO, James Daunt, who had led a seemingly miraculous turnaround of the U.K.'s largest bookstore chain Waterstones.
Daunt pushed for Barnes & Noble stores to "weed out the rubbish" from their shelves. The retailer has embraced TikTok's BookTok and social-media influencers, and shook up its deals with publishers. (The chain stopped accepting publishers' payments for special displays. This was quick money, but often risked saddling prime spots with unpopular books and triggering a series of costs for the store.)
The biggest change borrowed from the playbook of independent bookshops: Daunt gave local Barnes & Noble stores much more authority to order what their readers, in their area want to see.
It's "a huge shift, frankly, in philosophy for us as a bookseller," DeVito says. "It's not an algorithm. It's not something that's dynamically pulled from a code. It's very much a — I read this, I loved it, I know this area really gravitates towards beekeeping books, so I'm going to create the best beekeeping display I can because this is my local store."
The chain took advantage of oddly opportune timing
Not long after Daunt took helm, the pandemic lockdowns left Barnes & Noble shuttered, followed by furloughs and layoffs. But the company also used that time to renovate the stores and recalibrate the business. Retail bankruptcies created cheaper space for new stores, too.
Then, 2021 set the record for book sales in the U.S., meaning the refreshed Barnes & Noble launched exactly when people were buying more books than ever.
"We scaled Everest in 2021, the highest point ever in the book market," said Kristen McLean, executive director of NPD BookScan. "And Barnes & Noble was in a perfect position to capitalize on that because they were that fresh energy ... and consumers were really happy to be back in bookstores."
The chain has continued to close some stores even as it expanded into new ones. In northern Virginia, Barnes & Noble will soon open its largest store in years, at 28,000 square feet, in a former Office Depot space. The new Pikesville bookshop has a smaller city format, inside a former Pier 1 store.
The store makeover faces scrutiny from shoppers
New stores get a near-total makeover: brighter paint, lighter wood, a new layout. Bookshelves get arranged not in rows of alphabetical stacks but in thematic nooks, meant to encourage shoppers to linger, browse and maybe find something they didn't know they wanted.
Friends Kendra Wallace and Audryana Pitts-Wright stopped by the Pikesville store in search of the latest Ebony magazine, which this Barnes & Noble did not carry.
"The look, the feel is obviously different than a traditional Barnes & Noble — that I did notice," Pitts-Wright said. "But at the same time, it doesn't really feel authentic. They're trying to capture the more intimate, independent bookstore feel when it's still just a Barnes & Noble."
Still, Wallace left the store with a shopping bag. Inside were novels she'd followed on social media and had on her list: Seven Days In June by Tia Williams and Tender Is The Flesh by Agustina Bazterrica.
"Should I have bought more books for my collection? Probably not," Wallace said and laughed. "I'm a reader."
Barnes & Noble may not have sold the friends on its new identity, but it did sell them some books.
Editor's note: Ebony has switched to digital-only publication and, with the exception of some special editions, stopped printing magazines in 2019.
veryGood! (5677)
Related
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Hailee Steinfeld and Josh Allen's Relationship Hard Launch Is a Total Touchdown
- Officials release video of officer fatally shooting Sonya Massey in her home after she called 911
- To Help Stop Malaria’s Spread, CDC Researchers Create a Test to Find a Mosquito That Is Flourishing Thanks to Climate Change
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Kamala Harris' campaign says it raised more than $100 million after launch
- This state was named the best place to retire in the U.S.
- Eminem brings Taylor Swift’s historic reign at No. 1 to an end, Stevie Wonder’s record stays intact
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Florida’s only historically Black university names interim president
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Team USA Basketball Showcase highlights: US squeaks past Germany in final exhibition game
- All-Big Ten preseason football team, selected by USA TODAY Sports Network
- U.S. Navy pilot becomes first American woman to engage and kill an air-to-air contact
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Hiker runs out of water, dies in scorching heat near Utah state park, authorities say
- Get your hands on Deadpool's 'buns of steel' with new Xbox controller featuring 'cheeky' grip
- Kandi Burruss’ Must-Haves for Busy People Include These Hand Soap Sheets You Won’t Leave Home Without
Recommendation
Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
See exclusive new images of Art the Clown in gory Christmas horror movie 'Terrifier 3'
Beach Volleyball’s Miles Evans Reveals What He Eats in a Day Ahead of Paris Olympics
Second man arrested in the shooting of a Tennessee Highway Patrol trooper
Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
Silicon Valley-backed voter plan for a new California city won’t be on the November ballot after all
U.S. stocks little moved by potential Harris run for president against Trump
Taylor Swift could make it to quite a few Chiefs games this season. See the list