Barnes & Noble is making a comeback
CNN
The world’s largest retail bookseller is expanding at a breakneck pace and is on track to reach its goal of more than 60 planned openings this year. The plan marks a dramatic shift from when it closed hundreds of its stores before the arrival of a new CEO.
A massive, multi-story building in the Washington, DC, neighborhood of Georgetown welcomed back a former occupant this month that had been gone for over a decade. In a move that’s perhaps more symbolic than business-minded, Barnes & Noble, America’s largest retail bookseller, has reclaimed the flagship store it vacated in 2013. It’s just one of over 60 new locations opening this year as part of an ambitious expansion plan that seemed impossible before CEO James Daunt took over in 2018. Daunt referred to the return to the Georgetown branch as a “dramatic example of the ongoing revival of brick-and-mortar bookstores.” Before Daunt’s arrival, Barnes & Noble appeared to be on the same path as most struggling US retailers. Sales had plunged — leading to hundreds of store closings — as consumers continued buying from online retailers like Amazon. But Barnes & Noble would revamp its business model. It began prioritizing customer preferences over promotions and catered to a community of readers who engage on social media.
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