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August 31, 2007 | From the Associated Press
Barnes & Noble Inc. has changed its mind about the new O.J. Simpson book. After saying it would not stock copies of "If I Did It" in its stores, citing lack of customer demand, the chain said Thursday that it would indeed carry the book, due out Sept. 13. Since the initial decision Aug.
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BUSINESS
May 1, 2012 | By Andrea Chang and David Sarno, Los Angeles Times
Barnes & Noble Inc.'s prospects against rivals Amazon.com Inc. and Apple Inc. in the fast-growing digital reader business just got a big lift thanks to a $605-million investment from Microsoft Corp. For the nation's No. 1 bookstore chain, the infusion will help its Nook business better compete against the top-selling Kindle e-reader and iPad tablet computer and relieves some of the pressure on Barnes & Noble to turn a profit on the Nook. It's also a good deal for Microsoft, which is spending barely 1% of its $60-billion cash reserve to gain a bigger presence in the e-reader and tablet markets ahead of the widely anticipated launch of its Windows 8 operating software later this year.
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BUSINESS
February 22, 2011
NEW YORK ? Book seller Barnes & Noble's third-quarter revenue rose, but its net income fell 25 despite higher revenue as it continued to invest in its online operations and Nook e-readers, the company said Tuesday. Barnes & Noble also said it was suspending its quarterly dividend, and it doesn't plan to forecast its fourth-quarter or full-year earnings due to the effect of last week's bankruptcy filing by Borders Group. The company said its quarterly net income rose to $60.6 million, or $1 per share, from $80.4 million, or $1.38 per share.
BUSINESS
April 23, 2012 | Bloomberg News
Barnes & Noble Inc. shares rose sharply after Jana Partners, a hedge fund that has pushed for companies to sell off assets, disclosed a 12% stake in the largest U.S. bookstore chain. The New York-based retailer's shares jumped 18% to $13.41. Barnes & Noble is considering separating its growing Nook digital unit into a separate company so investors will give it the higher valuation of a technology business. In March the company hired a new chief financial officer, Michael Huseby, who helped spin off two units while at Cablevision Systems Corp.
BUSINESS
July 21, 2009 | Alex Pham
Barnes & Noble Inc., which withdrew from the nascent digital book market in 2006, said Monday that it had reentered the growing field and launched "the world's largest e-bookstore." The New York retailer, which operates 777 stores in the U.S., boasted that its online bookshop has more than 700,000 titles. Included in the tally are about half a million books in the public domain and available as free downloads via a partnership with Google Inc.
BUSINESS
February 2, 2010 | Bloomberg News
Shares of bookseller Barnes & Noble Inc. rose 18% in late U.S. trading after Los Angeles billionaire Ron Burkle, its largest outside shareholder, asked the company to waive a provision preventing unwanted takeovers and let him acquire as much as 37% of the shares. In a letter to the board of directors Thursday, Burkle asked the company to clarify whether the shares owned by the founding Riggio family were excluded from the takeover provision. The letter was filed with the Securities and Exchange Commission after the close of regular trading in New York, when the shares had risen 52 cents to $18.
BUSINESS
September 28, 2010 | Bloomberg News
Barnes & Noble Inc.'s shareholders voted to keep Chairman Leonard Riggio on the board of the company he founded, rejecting an attempt at his ouster by Ron Burkle's Yucaipa Cos. to shake up the largest U.S. bookstore chain. Riggio, the biggest shareholder, was re-elected to the nine-member board with less than 50 percent of votes cast, Yucaipa said in a statement. The slate from Yucaipa, the second- largest holder, included Burkle. The vote caps more than a year of Burkle and Riggio clashing over the company's direction as the chain tries to keep its 700 superstores profitable amid growing popularity of digital books and online sales.
BUSINESS
August 4, 2010 | By Tiffany Hsu, Los Angeles Times
Bookstore behemoth Barnes & Noble Inc., facing tough competition from online retailers and a free-falling stock, said Tuesday that it was considering selling itself. The New York company said it was putting together a special committee to "evaluate strategic alternatives" to boost its "significantly undervalued" shares. Shares surged 26% in after-market trading to $16.17 after closing down 98 cents, or 7.1%, at $12.84. The stock has nose-dived since April, when the price was hovering around $25. The bookseller's vulnerability has already captured the attention of Los Angeles billionaire and celebrity hobnobber Ron Burkle, a major stakeholder who has been making moves to increase his roughly 19% stake in the company.
BUSINESS
March 12, 2010 | By Andrea Chang
The story line for bookstore giant Barnes & Noble Inc. is growing ever more dramatic, with falling store sales, increasingly stiff competition and a fierce battle over the company's shares led by a billionaire Los Angeles investor. Barnes & Noble changed the face of book retailing in the 1990s with its aggressive rollout of hundreds of superstores nationwide. Today, the New York company sells about 300 million books a year and accounts for roughly 18% of U.S. book sales, making it the world's largest bookseller.
BUSINESS
September 29, 2010 | By Nathaniel Popper and Andrea Chang, Los Angeles Times
Los Angeles billionaire investor Ronald Burkle lost his bid to unseat the chairman of book giant Barnes & Noble Inc. in a shareholder vote that ended Tuesday, delivering a big victory to the company's leadership. The closely watched vote was considered critical to the future of the company, with Barnes & Noble executives favoring a steady, tried-and-true method of running the world's largest bookseller and Burkle fighting for a major shake-up ? although he never made clear what plans he had for the company.
BUSINESS
February 22, 2012 | By Tiffany Hsu, Los Angeles Times
Wal-Mart Stores Inc.'s strategy of offering deep discounts over the holiday season helped the world's largest retailer perk up its revenue, but profit for its fiscal fourth quarter was down compared with a year earlier. The chain had sales of $122.3 billion in the quarter that ended Jan. 31, up 5.8% from $115.6 billion the year before. But Wal-Mart's profit slipped 13% to $5.4 billion, or $1.50 a share, compared with $6.2 billion, or $1.70 a share, a year earlier. In same store sales, the chain reported a 1.5% year-over-year boost in the quarter — its second such increase after nine straight declines.
BUSINESS
January 6, 2012 | By Nathan Olivarez-Giles, Los Angeles Times
Shares of Barnes & Noble Inc. plunged 17% on Thursday after the book retailer said it was evaluating the possible sale of its Nook e-reader and tablet business. The New York company also said that as a result of investments in growing its Nook business and slow sales of its $99 Nook Simple Touch e-reader — which competes with rival Amazon.com Inc.'s Kindle e-reader — it expects to post a loss for the year of $1.10 to $1.40 a share. Barnes & Noble said it was considering spinning off the Nook business despite record sales over the holiday season.
BUSINESS
November 27, 2011 | By David Sarno, Los Angeles Times
The iPad, the heavyweight champ of the tablet world, has summarily knocked out every challenger it has faced since it debuted last year. The defeated include tablets with names including Xoom, PlayBook, TouchPad, G-Slate and Streak, none of which has grabbed more than a tiny sliver of the $10-billion tablet market over which the iPad reigns. But now a pair of new lighter-weight contenders are aiming to hit Apple Inc. where it hurts: the price tag. Amazon.com Inc.'s $199 Kindle Fire and the $249 Nook Tablet from Barnes & Noble Inc. retail for less than half the cost of the lowest-priced iPad and are undercutting the prices of nearly every brand-name tablet on the market.
BUSINESS
November 27, 2011 | By Nathan Olivarez-Giles, Los Angeles Times
Amazon.com's Kindle Fire has drawn a lot of media and consumer attention as the latest, and perhaps the first legitimate, contender to the iPad. But Barnes & Noble Inc. argues that Amazon is just following its lead. Nearly a year ago, the bookseller rolled out the Nook Color, a 7-inch device that it asserts is the second bestselling tablet behind Apple Inc.'s iPad. Now Barnes & Noble is trying to fend off Amazon with the $249 Nook Tablet, which looks the same as the $199 Nook Color but has a horsepower boost that makes it a more polished product worth considering for those who don't want to, or can't, spend $499 on an iPad.
CALIFORNIA | LOCAL
November 25, 2011 | By Martha Groves, Los Angeles Times
It isn't the cozy Shop Around the Corner — the indie bookstore of "You've Got Mail" movie fame — but it is the multilevel behemoth on the corner of Westwood and Pico boulevards that shoppers have browsed since 1995. And, now that Barnes & Noble has confirmed the unprofitable store's closing at year-end, lovers of things literary are bemoaning the demise of yet another Westside book merchant. "We're terribly distressed. We're devastated," said Teri Geske of Cheviot Hills, who one recent evening was checking out J.R.R.
BUSINESS
November 8, 2011 | By Nathan Olivarez-Giles, Los Angeles Times
Barnes & Noble Inc. has unveiled its Nook Tablet, the bookseller's answer to rival Amazon.com Inc.'s Kindle Fire tablet. The Nook Tablet is now available for preorder and will be shipped to Barnes & Noble stores and other retailers (Target, Staples, Wal-Mart, Office Max and others) late next week at a price of $249 — about $50 more than the Kindle Fire. Barnes & Noble Chief Executive William Lynch said Monday that for the extra $50, the Nook Tablet will offer beefier specifications that will add up to a faster, smoother experience when reading books, playing games or watching movies.
BUSINESS
October 21, 2009 | Alex Pham
Barnes & Noble Inc., looking ahead to the next chapter in digital publishing, took the wraps off an electronic book reader, dubbed "nook." Anyone who has read Dr. Seuss' "One Fish Two Fish Red Fish Blue Fish" will recall Theodor Geisel's Nook who took a look at the book on a hook. For Barnes & Noble's $259 device, the hook is its ability to let users lend their books to their friends for up to 14 days at a time. Using the LendMe feature, nook owners can send a copy of their digital titles to their friends' iPhone, iPod Touch, BlackBerry or computer.
BUSINESS
October 7, 2011 | By Ben Fritz, Los Angeles Times
DC Comics' effort to expand digital distribution of its graphic novels has ignited a nasty battle between two bookselling giants. Barnes & Noble Inc. said Friday that its stores will not stock hard copies of 100 DC books that the Warner Bros.-owned unit is making available exclusively on Amazon.com's Kindle platform — a direct competitor of Barnes & Noble's Nook e-reader. Beginning with the launch of the Kindle Fire tablet Nov. 15, Amazon will have exclusive digital distribution rights for four months to books that include "Watchmen" and graphic novels featuring Batman and Superman.
BUSINESS
May 20, 2011 | By Andrea Chang, Los Angeles Times
Barnes & Noble Inc. announced late Thursday that it had received a buyout proposal from Liberty Media Corp. in a deal valuing the bookseller at about $1 billion. Liberty, based in Englewood, Colo., owns interests in numerous media, retail and other companies, including the Starz and QVC cable channels, the Expedia and Evite websites and the Atlanta Braves baseball team. The company offered $17 a share in cash for Barnes & Noble, a 20% premium over the bookseller's closing stock price of $14.11 on Thursday.
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