Five years after launching their first store, Books Are Magic owners Emma Straub and Michael Fusco-Straub will open a second location in Brooklyn, Time Out New York reports. The second store will be at 122 Montague St. in Brooklyn Heights and is expected to open in late October.
Bookstores
ABA Discusses Free Speech, E-Commerce Updates at Annual Meeting
The American Booksellers Association Annual Meeting and Town Hall was presented via Zoom yesterday, with board members and ceo Allison Hill sharing updates on the organization and fielding questions. In her president’s letter, Word bookstores owner Christine Onorati said, “Running our own businesses seems to get harder every single day,” she said. “And yet we are all committed to continuing the momentum for change that has begun and to make this a model that being guided by values and striving for success in business are not mutually exclusive concepts. We can do both. And we are trying to do exactly […]
Bookselling: Harvard Book Store To Open Location In The Prudential Center
As first suggested by reports a year ago, Harvard Book Store will open a new location in Boston’s Prudential Center in the spring of 2023. They are taking over 29,000 square feet of space that housed a Barnes & Noble location for 20 years — up until last month — and “will contain a wide selection of books, a state-of-the-art event space, a large children’s book section, and vibrant community spaces.” Co-owner Jeff Mayersohn said, “We are delighted to bring Harvard Book Store to the City of Boston, while continuing our long tradition of bookselling at our flagship Cambridge location. […]
Barnes & Noble Education Splits Top Job In Two, Renews Standstill with Investor
Ahead of reporting their fiscal fourth quarter later this week, Barnes & Noble Education announced that it has separated the roles of board chair and ceo, effective immediately. Lead independent director Vice Admiral John R. Ryan now serves as board chair, with Mike Huseby remaining as ceo. Additionally, Outerbridge Capital Investment’s chief investment officer Rory Wallace has been nominated to join the board at the next annual meeting in September and the investment firm renewed its standstill “cooperation agreement” first struck two years ago, when BNED explored and then abandoned a sale of the company. (Outerbridge currently holds 2 of […]
Booktopia’s Value Has Plunged
It took Australia’s leading online bookseller Booktopia years to pull off a public offering of shares in late 2020 — and in retrospect, it probably never should have done so. Shares have been sinking since last summer, accelerated by their surprise warning of low profits expected for the current year in early May. Since late August 2021, the company’s market cap has evaporated, going from $411 million (AU) down to about $26 million now. The Sydney Morning Herald ran a long “investigation.” While they note that, “In recent weeks, Booktopia has been laying off staff through redundancy rounds” — and […]
ABA Membership Counts Grow Again: “The rise in BIPOC stores is a big change for us”
The ABA releases their latest membership through the AP, per tradition. (The data is usually announced at the organization’s annual meeting — which was postponed this year from May to mid-July.) CEO Allison Hill said the organization has 2,010 members now, operating 2,524 locations, well up from last year’s counts of 1,700 members and 2,100 locations. Hill “attributes some of the rise to owners who delayed renewing their memberships early in 2021, reflecting uncertainty about the pandemic’s impact.” They also tallied “well over 100” new stores that opened within the last year, “dozens of them owned by people from a wider […]