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Barnes & Noble

Barnes & Noble NY Promises to be Nicer to Breastfeeding Mothers

barnesandnobleBarnes & Noble has promised to be more friendly to breastfeeding mothers in New York, as part of a settlement with New York Attorney General Eric T. Schneiderman.

As part of the deal, the book retailer will train all of its New York state employees about the company’s breastfeeding policy, in a move to ensure that women will be free to breastfeed in any of their stores without harassment. In addition, Barnes & Noble will display the international symbol for breastfeeding at the entrances to its New York stores and will pay $10,000 to Rockland County to support its Breastfeeding Promotion and Support Program.

The promise comes after the Attorney General’s office investigated an incident at one of the retailer’s locations in Nanuet, NY. Essentially a nursing mother was asked to cover up or leave the store while trying to breastfeed on March 16th. Under New York State law, mothers may breastfeed in any public location without having to cover themselves. Read more

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Barnes & Noble Revenues Down 6.7% in Fiscal 2014

barnesandnobleBarnes & Noble reported $6.4 billion in consolidated revenues for fiscal 2014, a 6.7 percent decrease over 2013. The book retailer also revealed that fourth quarter consolidated revenues reached $1.3 billion, a 3.5 percent increase over the prior year.

“We’re pleased with our improved financial performance in fiscal 2014, generating EBITDA of $251 million, the highest it’s been in four years, while executing on our strategic initiatives during the year,” explained Michael P. Huseby, CEO of Barnes & Noble, in a statement.  “Retail improved sales trends during the second half of the year, generating annual EBITDA of $354 million. College increased revenues from higher margin textbook rentals, continued to add new school contracts and developed and soft-launched Yuzu, our digital education platform, growing EBITDA to $115 million.”

The Nook business, which includes digital content, devices and accessories, had $87 million in revenues for the quarter and $506 million for the full year, down 22.3 percent for the quarter and down 35.2 percent for the year. The company revealed plans to sell off its Nook device inventory through a partnership with Samsung. The retailer will focus instead on Nook content.

Barnes & Noble Teams With Samsung on Co-Branded Tablets

samsungnookBarnes & Noble’s Nook Media has teamed up with Samsung Electronics America to develop a line of co-branded Samsung Galaxy Tab 4 Nook tablets.

The collection of tablets will marry Samsung Galaxy Tab’s hardware with Nook’s software. The 7-inch version of the tablet is slated to ship in August. Barnes & Noble will sell the tablets in their stores, and the devices will also be available online.

“We are very excited and proud to partner with Samsung, a world-class technology and tablet leader, to create customized co-branded devices featuring our valuable Nook reading experience and digital content catalog for Barnes & Noble customers nationwide,” stated Michael P. Huseby, Chief Executive Officer of Barnes & Noble, Inc.

Leonard Riggio Has Sold 3.7 Million Barnes & Noble Shares

barnesandnobleBarnes & Noble Chairman Leonard Riggio has sold 3.7 million shares of common stock, a portion of his holdings of Barnes & Noble stock. After the sell off, Riggio’s holdings are expected to represent approximately 20 percent of Barnes & Noble’s Common Stock outstanding.

“After this sale I remain the Company’s largest shareholder, a position I feel very good about,” explained Leonard Riggio, Chairman of Barnes & Noble, in a statement.  ”I love this company and I believe in its future as I do in all of the wonderful people who work here.” Riggio revealed that his sale is part of his long-term financial and estate planning. He has no plans to sell more stock this calendar year.

Earlier this month, the Liberty Media Corporation sold of its majority stake in Barnes & Noble “to qualified institutional buyers in reliance on Rule 144A under the Securities Act.” The company kept about 10 percent of its investment in the company.

Liberty Media Unloads Majority of its Barnes & Noble Stock

barnesandnobleLiberty Media Corporation is selling off its majority stake in Barnes & Noble “to qualified institutional buyers in reliance on Rule 144A under the Securities Act,” the company reported today.

Liberty will hold on to about 10 percent of its investment. The sale is expected to settle on Tuesday, April 8. In its new position, Liberty will lose its two preferred stock directors on Barnes & Noble’s Board — Greg Maffei and Mark Carleton will no longer serve on the board as of April 8th.

“By reducing our preferred position and eliminating some of our related rights, Barnes & Noble will gain greater flexibility to accomplish their strategic objectives,” stated Greg Maffei, President and Chief Executive Officer, Liberty Media. “We look forward to maintaining our relationship with the Company and are pleased that Mark Carleton will continue serving on the board. Mike Huseby and his team are doing a great job in the retail, college and NOOKspaces.”

 

Barnes & Noble Releases Self-Publishing Tools in Europe

nookBarnes & Noble’s digital publishing arm NOOK Media has officially introduced its self-publishing platform NOOK Press to authors and publishers in the UK, France, Germany, Spain, Italy, the Netherlands and Belgium.

Using the platform, authors and publishers can self-publish their books in these territories. The platform is also now available in multiple languages including French, Italian, German, Spanish, Dutch, and English. Royalties will be paid in their local currency.

“By expanding NOOK Press to the international community, we’re furthering our dedication to bring NOOK’s best-in-class digital reading experience and exciting new content to our customers around the globe,” stated Colin Eustace, General Manager, Barnes & Noble S.A.R.L. “Our goal is to get more people reading digitally, and with NOOK Press, we’re offering readers access to new voices and stories, and it’s another great reason to start reading with NOOK.”

Nook to Launch Nook Press in UK

nookBarnes & Noble’s digital arm Nook has plans to introduce its self-publishing platform to authors in the UK tomorrow, according to reports.

To support the launch, the retailer is a marquee sponsor at the Oxford Literary Festival this weekend where they will host self-publishing seminars, as well as a “Nook Experiential Area” where writers can explore the company’s products.

The Bookseller has more: “Colin Eustace, general manager of Barnes & Noble, S.A.R.L said:…’As Nook continues to grow in the UK we are proud to announce the upcoming launch of the Nook Press self-publishing platform and we invite authors and writers at the Oxford Literary Festival to speak to a representative for more information.’”

National Education Association’s Read Across America Takes Place March 3rd

NEACalling all children, it’s time to read! National Education Association’s (NEA) 17th Annual Read Across America event will take place on Monday, March 3, 2014.

The day is designed to encourage reading among school kids. Here is more about the event from the website: “The Seussical celebration will kick off a week of reading across the nation as NEA members gather students, parents, and community members together to share their love of reading. It’s never too early to plan your event and NEA’s RAA will be posting tips and resources to help you make your event Seussational.”

Schools, libraries and book stores are encouraged to host their own events to support the cause. For example, Barnes & Noble is hosting free story time events to support the national day of reading at stores across the country.

Barnes & Noble Gets Acquisition Offer From G Asset Management

NookPrivate investment management firm G Asset Management (GAM) has offered to buy 51% of Barnes & Noble, Inc., valuing the company at $22 per share. GAM has also made an alternative offer to acquire 51% of the Nook segment, valuing the segment at $5 per share. Both deals are subject to approvals, and negotiations.

Here is more from the press release: “GAM  stated in its proposal that it was extremely confident that if the Nook segment is separated from the profitable retail and college business, substantial shareholder value would be created.”

The company had offered to buy the book chain for $20 a share last year but the deal never went through. Barnes & Noble chairman Leonard S. Riggio also considered buying the company. Since then former B&N CEO William Lynch has left the company and  Michael P. Huseby has taken over the reigns as CEO.

William Lynch, Former Barnes & Noble CEO, Lands New Technology Job

lynchWilliam J. Lynch, the former CEO of Barnes & Noble has been appointed CEO of Savant Systems, a company involved in Internet-enabled appliances for the home.

Lynch resigned from the book retailer in July after numerous quarters of shrinking revenues. Lynch had spearheaded Barnes & Noble’s Nook business, which faced stiff competition from Amazon.

Lynch will continue to be involved in technology in his new role at Savant Systems. The company focuses on “the Internet of things,” or using technology to remotely manage appliances, home theater, music, security, thermostat, lights, energy management, and automated shades. Lynch replaced Robert Madonna, the company’s founder and CEO since 2005. Madonna will now serve as Chairman of the Board.

 

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