Following what was advertised as their “best [holiday] comparable store sales performance in more than a decade,” Barnes & Noble laid off an unspecified number of employees today, rumored to be roughly 40 people or more, apparently including a number of veterans well-known to publishers. Spokesperson Mary Ellen Keating said by e-mail, “We made a small number of organizational changes this week that are designed to better align our resources with our business. Barnes & Noble is a growing company with both our revenues and new hires growing faster than they have in years.” She declined to discuss the number […]
Bookstores
Still More Cuts As Borders Lays Off Another 45 People; Laredo Hopes to Land BAM
This time Borders has eliminated another 40 jobs from their Ann Arbor headquarters, and another 5 jobs at their distribution centers, announced on Monday. Spokesperson Mary Davis told the Detroit Free Press, “The realignment at the store support center encompasses nearly all business areas, including IT, human resources, finance and merchandising. This decision is a result of Borders’ focus on reducing costs and readjusting its business model to improve profitability and cash flow.” In better bookstore news, lobbying from Laredo, TX to entice a major bookstore to the city following the closure of their last new bookstore of scal, a B. […]
On Borders: We Really Might Not Know Until Groundhog Day
In Friday’s Lunch we compared Borders’ presentation to publishers on Thursday as Groundhog Day–a repetition of the same basic plan they had been talking about since late December–and it also appears that there may not be a final decision on the bookseller’s fate until Groundhog Day itself, the rough deadline set by Borders. The WSJ adds the name of the law firm that is representing Borders in the restructuring talks (Kasowitz, Benson, Torres & Friedman), and provides an estimated amount for the new credit line under negotiation with GE and others: “$500 million or more.” That is considerably less than […]
One Way to Sell eBooks from Bookstore Shelves
BTW has an interesting piece on how two stores, Green Apple Books in San Francisco and McLean and Eakin Booksellers in Petoskey, Michigan, are using their shelves to help promote and sell ebooks. They have created shelf-talkers with QR codes. “Customers can scan the square codes with their smartphones and go directly to the featured titles on the store’s IndieCommerce website.” Green Apple’s Pete Mulvihill says “we’ll put these all over the displays at the front of the store on any agency plan titles. If nothing else, we think it’ll lead to plenty of customer questions. And at best, we […]
Borders Lays Off Another 15 Staffers
As publishers met with Borders executives yesterday afternoon to discuss restructuring options and credit negotiation agreements, the company announced today that another 15 staffers have been let go. Spokesperson Mary Davis issued a statement that, “As part of its brand transformation process, which includes enhanced cost efficiencies measures, Borders Group today eliminated 15 positions within its field organization. The number includes 9 regional merchandising manager, four event marketing manager and two district manager positions. “The affected employees are being offered, in some cases, an alternative position, while the rest of the employees will receive severance in accordance with company policy. […]
Bookselling: British Bookshops Goes Into Administration; Book Sales Boost Tesco; and More
Sussex-based chain British Bookshops as gone into administration, with recovery specialists Zolfo Cooper on board and Simon Appell, Fraser Gray, and Stuart Mackellar appointed as joint administrators. The news comes less than a year after managing director John Simpson led a buyout from turnaround specialists Endless, and added 12 stores for a total of 51 across the UK. Earlier today the Bookseller reported that Macmillan Distribution had stopped shipping stock to the retailer for non-payment of its October account, despite repeated assurances the bill would be paid by the end of December. One publisher said the store “has been refusing […]