Barnes & Noble Inc., the struggling bookseller, reported "material weakness" in its accounting and restated three years of financial results. Investors seemed alarmed by more bad news from the unprofitable retailer whose chief executive stepped aside earlier this month and they bid down its stock by 4%.Barnes & Noble said Monday that errors in reporting sales and occupancy costs, plus an inaccurate tally of income-tax refunds received when it was unprofitable in 2011 and 2012, caused the company to over-report losses over those two years by $9 million. Actual losses over those two years were $134 million, not the $143 million, the company.In 2010, the company's last profitable year, Barnes & Noble said it really earned $43 million instead of the $37 million initially reported. The company said it previously had overstated sales and occupancy costs and understated the amount it owed in taxes. It in fact paid $12 million in income taxes that year, 50% more than the previously reported amount.The bookseller said the errors resulted from "inadequate controls over the accrual reconciliation process at its distribution centers" and it is working to fix the problem.A spokeswoman for the bookseller didn't immediately return a call seeking comment.The accounting problems seem to stem from the company's decision to buy more books directly from publishers instead of wholesalers. In its annual report, Barnes & Noble said it has invested significantly in new warehouses... Continue reading at 'Crains New York'
[ Crains New York | 2013-07-30 00:00:00 UTC ]
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Barnes and Noble is putting on the costume of a local indie bookstore, but their inner mechanics are still all big-box chain corporation. Continue reading at Book Riot
[ Book Riot | 2023-05-23 10:36:00 UTC ]
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The workers at B&N College Booksellers at Rutgers University in New Brunswick, N.J., have voted unanimously to unionize. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-05-15 04:00:00 UTC ]
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Barnes & Noble is taking 25% off certain pre-order books, ebooks, and audiobooks. Here's a taste of what's available, plus more information. Continue reading at Book Riot
[ Book Riot | 2023-04-26 16:50:30 UTC ]
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Ethan Schmidt-Crockett, who I guess has made a name for himself “protesting” “woke” stores, was recently kicked out of an Arizona Barnes and Noble for quietly bullying the Pride Display. Schmidt-Crockett, alongside his unnamed sidekick, filmed himself prowling through Barnes and Noble, saying... Continue reading at Literrary Hub
[ Literrary Hub | 2023-04-20 13:50:23 UTC ]
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The bookseller announced new benefits and discount perks in an effort to "revitalize" its membership ranks and unveiled an alternative free B&N Rewards loyalty program. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-04-19 04:00:00 UTC ]
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Almost 80 years after the first of Tove Jansson's Moomins appeared, the US market finds the durable characters at Barnes & Noble. The post Tove Jansson’s Moomin Characters Licensed to Barnes & Noble appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-03-17 19:07:53 UTC ]
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"Just use your library" is not the solution to the new price hikes and benefit decreases in Barnes & Noble's membership changes. Continue reading at Book Riot
[ Book Riot | 2023-03-01 12:57:36 UTC ]
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James Daunt launched his first indie bookshop in London 33 years ago. The Barnes & Noble CEO is now bringing the lessons he learned to the biggest bookseller in America. If you’re strolling down the Marylebone High Street in London, you’ll stumble across a popular bookstore called Daunt... Continue reading at Fast Company
[ Fast Company | 2023-02-28 04:30:00 UTC ]
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The bookselling chain saw sales in 2022 top those in the pre-pandemic period, but CEO James Daunt says there is still much more work to be done. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-02-10 05:00:00 UTC ]
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After years of store closings, Barnes & Noble is making a comeback with 30 new stores planned for 2023—and a new image. Branded is a weekly column devoted to the intersection of marketing, business, design, and culture.Read Full Story Continue reading at Fast Company
[ Fast Company | 2023-01-13 04:30:00 UTC ]
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The bookstore chain has announced the first-ever BookTok Festival will be held at its flagship store in New York City's Union Square on February 4. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-01-05 05:00:00 UTC ]
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Competition from Amazon seems to have ended as Barnes & Noble plans to open more stores in 2023 as part of a real estate expansion wave. Continue reading at Book Riot
[ Book Riot | 2022-12-22 16:50:46 UTC ]
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Revisiting a now quaint conflict about Barnes & Noble displacing indie booksellers in New York. Continue reading at Slate
[ Slate | 2022-12-20 08:00:00 UTC ]
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Writers sounded the alarm after learning Barnes & Noble stores would only be stocking hardcovers with proven sales records. Here's more on what this means. Continue reading at Book Riot
[ Book Riot | 2022-08-19 15:26:28 UTC ]
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The annual Barnes & Noble sale is underway and offering 50% off some of the most popular books this year. Continue reading at Book Riot
[ Book Riot | 2022-08-12 16:55:39 UTC ]
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Barnes & Noble has revealed its latest Nook e-reader, a more budget-friendly version of the Nook GlowLight 4 it announced in December. The Nook Glowlight 4e costs $30 less than the previous model but, as you might expect, there are some tradeoffs.The e-readers share a similar design, with... Continue reading at Engadget
[ Engadget | 2022-05-25 14:19:54 UTC ]
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A Virginia lawyer and state delegate has filed a restraining order against Barnes & Noble for carrying GENDER QUEER. Continue reading at Book Riot
[ Book Riot | 2022-05-19 11:23:55 UTC ]
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The Barnes & Noble preorder sale applied to print books, ebooks, and audiobooks. Here are some big name titles coming out soon to preorder now. Continue reading at Book Riot
[ Book Riot | 2022-04-20 19:56:32 UTC ]
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To independent booksellers, the enormous chain was once a threat. Now it’s vital to their survival. And it’s doing well. Continue reading at The New York Times
[ The New York Times | 2022-04-15 09:00:20 UTC ]
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Barnes & Noble finally has a direct answer to Amazon's purchase of Audible. The bookseller has launched a B&N Audiobooks service in the US that lets you either buy recordings or pay $15 per month for a subscription that offers one recurring monthly credit. You'll have access to more than... Continue reading at Engadget
[ Engadget | 2022-04-07 16:21:47 UTC ]
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