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History
Barnes & Noble originated in 1873 when Charles Barnes opened a book-printing business in Wheaton, Illinois. Their first true bookstore was set up by his son, William, in partnership with G. Clifford Noble, in 1917 in New York City. The original bookstore was at 31 West 15th St., and opened during World War I. In 1932, at the height of the Great Depression, the bookstore was moved to its current flagship location on 18th Street and Fifth Avenue.
The business was purchased in 1971 by Leonard Riggio,
who oversaw the growth of the business. In 1974, Barnes & Noble
became the first bookstore to advertise on television, and a year
later, the company became the first bookseller in America to discount
books, by selling New York Times best-selling titles at 40% off the publishers’ list price.
During the 1970s and 1980s, Barnes & Noble opened smaller discount
stores, which were eventually phased out in favor of larger stores.
They also began to publish their own books to be sold to mail-order
customers. These titles were primarily affordable reissues of
out-of-print titles, and selling them through mail-order catalogs
allowed Barnes & Noble to reach new customers nationwide.
Barnes & Noble continued to expand throughout the 1980s, and in 1987 purchased the primarily shopping mall-based B. Dalton chain from Dayton Hudson.
The last B. Dalton stores are slated to close in January 2010. The
acquisition of 797 bookstores turned the company into a nationwide
retailer, and as of the end of fiscal year 1999, the second-largest
online bookseller in the United States. B&N's critics claim that it has contributed to the decline of local and independent booksellers.
Before Barnes & Noble created its web site, it sold books
directly to customers through mail-order catalogs. It first began
selling books online in the late 1980s, but the company’s website was
not launched until May 1997. The site now carries over 1 million titles.
In 2002, Leonard Riggio's brother Stephen Riggio was named CEO.
Steve Riggio, CEO and Vice Chairman
Steve Riggio is vice chairman of the company and served on the board
of directors. Riggio began his career at Barnes & Noble in 1975
after graduating from Brooklyn College. After getting his start in the
buying and merchandising departments, he became general manager and
vice president of the company’s direct mail division. He held this
position from 1981 to 1987. Riggio became executive vice president of
merchandising in 1987. Then, in 1995, he was appointed chief operating
officer. He was appointed CEO in January 2003 and held that position
till March 2010.
In addition to his career at Barnes & Noble, Riggio serves on the
board of directors of the National Book Foundation, Association for the
Help of Retarded Children and the National Down Syndrome Society.
According to Forbes.com, in 2007 Riggio’s salary is $786,358 a year. He
also earns $2,323,942 in other long-term compensation, for a yearly
grand total of $3,110,480.
Publishing
Barnes & Noble publishes some of the books it sells,
inexpensively reprinting non-copyrighted titles or acquiring the U.S.
or English language rights from another publisher. In addition, Barnes
& Noble commissions reprint anthologies and omnibus editions using
in-house editors.
Barnes & Noble began to publish books during the 1980s, when
they started reissuing out-of-print titles. One of these titles, The Gentle Art of Verbal Self-Defense by Suzette Haden Elgin, has sold over 250,000 copies. The reissued edition of The Columbia History of the World by John Garrity has sold over 1 million copies.
Since then, the company has expanded its publishing operation. This expansion was aided by the company’s acquisition of SparkNotes,
an educational website and publishing company. Further expansions of
the company’s publishing business include the purchase of how-to
publisher Sterling Publishing in 2003 and the launch of Quamut in 2008.
From around 1992 through early 2003, Barnes & Noble released a
series of literary classics for adults and children under the imprint Barnes & Noble Classics Collection.
Originally available only in hardcover, most titles came in a black or
cream-colored dustjacket edition. In 2003, Barnes & Noble revamped
and expanded its line of literature classics, releasing books in
hardcover, trade paperback and mass-market editions.
Cafés
The first store to feature a café serving Starbucks beverages was in Springfield, New Jersey in 1993. Since then, most stores have been amended or constructed specifically to feature a cafe serving Starbucks beverages, Harney & Sons or Tazo Tea, FIJI Bottled Water, bakery goods from The Cheesecake Factory, candy from Godiva Chocolatiers,
sandwiches and other specialty products. Although the cafés are owned
and operated by Barnes & Noble, servers follow Starbucks' standards
in beverage preparation; the prominent Starbucks logo is sometimes
confusing for customers wanting to use Starbucks stored-value cards
or the Starbucks Gold Card, which are not accepted (the Barnes &
Noble Membership is accepted to receive a discount on any Cafe related
good).
In 2004, Barnes & Noble began offering Wi-Fi in the café area of selected stores, using the AT&T
FreedomLink network. All 777 stores currently offer Wi-Fi, an effort
which was completed in 2006. As of July 27, 2009, Wi-Fi is offered for
free to all customers.
Barnes & Noble hires community relations managers to engage in
community outreach. The responsibilities of these managers include
organizing in-store events, such as author appearances, children’s
storytimes and book groups. Community relations managers work closely
with local schools and groups for the promotion of literacy and the
arts. One of the things that Barnes & Noble does in the community
is sponsor a children's summer reading program that promotes literacy
and puts over 2 million books into the hands of the children each year.
Barnes & Noble also hosts bookfairs which raise funds for schools
and libraries. The company also hosts an annual holiday book drive to
collect books for disadvantaged children. 1.16 million books were
collected and distributed in 2007.To promote nationwide literacy among 1st to 6th graders and encourage
more reading during the summer, Barnes & Noble has implemented a
summer challenge where if children read 8 books and write about their
reading, Barnes & Noble will give the readers a free book.
Barnes & Noble Nook
Barnes & Noble Nook is an electronic book reader developed by the company, based on the Android platform. The device was announced in the United States on 20 October 2009, and was released 30 November 2009 for US$259.nook competes with the Amazon Kindle, Sony Reader, and other readers, and includes Wi-Fi and AT&T 3G wireless connectivity, a six inch E Ink display, and a separate, smaller color touchscreen that serves as the primary input device.
College bookstores
Barnes & Noble College Booksellers, Inc., headquartered in Basking Ridge, NJ,
is a subsidiary of the company which operates bookstores at more than
600 institutions of higher education. College Bookstores was previously
owned by company chairman Leonard Riggio.
Barnes & Noble College Booksellers also operates the self-proclaimed "world's largest bookstore," located on Fifth Avenue
and 18th Street in New York City. This flagship store carries a large
variety of textbooks, medical books, and medical supplies in addition
to the various trade titles carried at the company's main stores.
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