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Barnes & Noble

American bookseller with large retail presence.

Barnes & Noble is the largest bookstore chain in the U.S., operating around 600 stores nationwide. Known for its expansive retail outlets, the company offers a variety of products including books, magazines, DVDs, and Nook e-readers. Barnes & Noble also provides publishing and self-publishing services.

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Timeline

Barnes & Noble Founded

Barnes & Noble was founded in 1873.

Founding of Arthur Hinds & Company bookstore

In 1886, Arthur Hinds & Company, the precursor to Barnes & Noble, was established as a bookstore at 4 Cooper Institute in New York City.

Hinds & Noble Partnership

In 1894, Noble became a partner in C.M. Barnes Company, leading to the name change to Hinds & Noble. This partnership marked a significant moment in the company's history.

Relocation of Hinds & Noble bookstore

In 1901, Hinds & Noble, later known as Barnes & Noble, moved its bookstore to 31-35 W. 15th Street in New York City.

William R. Barnes becomes president of C.M. Barnes Company

In 1902, William R. Barnes took over as the president of C.M. Barnes Company, which exclusively dealt in school books.

William Barnes and G. Clifford Noble establish Barnes & Noble in New York City

In 1917, William Barnes, son of Charles Barnes, partnered with G. Clifford Noble to establish Barnes & Noble in New York City, solidifying the company's presence in the book retail industry.

Barnes & Noble established after acquiring Noble & Noble

In 1929, Barnes & Noble was officially established after William R. Barnes acquired an interest in the educational bookstore Noble & Noble in New York.

Sale of Noble's share to John Wilcox Barnes

In 1930, Noble sold his share of the company to John Wilcox Barnes, marking a significant ownership change within the Barnes & Noble company.

Opening of Barnes & Noble flagship bookstore on New York's Fifth Avenue

In 1932, Barnes & Noble established its main bookstore on Fifth Avenue in New York City, marking a significant milestone in the company's history.

Opening of Waverly Book Exchange

In 1965, Leonard Riggio borrowed $5,000 to open his own college bookstore, the Waverly Book Exchange, which soon rivalled the official NYU bookstore in sales.

Acquisition by Amtel

In 1969, Barnes & Noble was acquired by Amtel after the death of John Barnes. This acquisition marked a new chapter in the company's ownership.

Expansion of Barnes & Noble Fifth Avenue Store

Within a few years of the acquisition, Leonard Riggio grew the Barnes & Noble Fifth Avenue store in New York City into 'The World’s Largest Bookstore,' offering a vast collection of 150,000 textbook and trade titles.

Barnes & Noble flagship store enters Guinness Book of World Records

In 1972, Barnes & Noble's flagship store in New York City was recognized in the Guinness Book of World Records as 'the World's Largest Bookstore', known for doing the largest dollar volume of any retail bookstore in the country.

Major Chains Implement New Software Strategies

Major bookstore chains, including Barnes & Noble, adopted new software strategies to enhance their operations.

Barnes & Noble Acquires B. Dalton

Barnes & Noble made a significant acquisition by purchasing B. Dalton, which positioned them as the largest bookstore chain.

Acquisition of B. Dalton Bookseller

In 1987, Barnes & Noble made its largest acquisition by purchasing 797 retail bookstores from B. Dalton Bookseller, becoming a nationwide retailer overnight and the second-largest bookseller in America.

Barnes & Noble purchases Bookstop chain

In 1989, Barnes & Noble acquired the 22-store chain Bookstop. This purchase further expanded Barnes & Noble's presence in the book retail market.

Barnes & Noble Goes Public

In September 28, 1993, Barnes & Noble, Inc. decided to go public by selling its stock to raise cash due to its significant growth and high debt. The initial public offering was highly successful, with the stock closing at $29.25 on the first day of trading.

Barnes & Noble's Revenue Growth

By the fiscal year ending in January 1994, Barnes & Noble reported an 87 percent increase in revenue at its superstores. The company's expansion efforts, especially in the textbook and children's book areas, contributed to its significant growth.

Barnes & Noble's Expansion of Superstores

During the 1995 fiscal year, Barnes & Noble opened 97 additional superstores, bringing the total to 358. This growth led to declining sales for mall bookstores, including the company's own, resulting in a restructuring program and closures of B. Dalton stores.

Street Fighters: Where Borders Group and Barnes & Noble Compete, It's a War

A fierce competition ensues between Borders Group and Barnes & Noble, leading to intense rivalry as detailed in the Wall Street Journal on September 3, 1996.

Booksellers Prepare to Do Battle in Cyberspace

In January 1997, booksellers gear up for competition in the online space, anticipating a challenging environment as highlighted in the Wall Street Journal.

Barnes & Noble Slows Its Store Openings

Barnes & Noble decided to slow down the pace of opening new stores, which was a significant shift in their business strategy.

Bertelsmann to Buy a 50% Interest in Web Bookseller

Bertelsmann announces the acquisition of a 50% stake in a web bookseller, as detailed in the Wall Street Journal on October 7, 1998.

Barnes & Noble Likely to Build Centers for Distribution If Ingram Deal Fails

In case the deal with Ingram falls through, Barnes & Noble is expected to construct distribution centers, as mentioned in the Wall Street Journal on June 2, 1999.

Acquisition of SparkNotes.com

In 2001, Barnes & Noble acquired SparkNotes.com, a popular study aids website, enhancing its educational offerings.

CEO Leonard Riggio steps down

In 2002, Leonard Riggio, the CEO of Barnes & Noble, stepped down from his position. He named his younger brother, Stephen Riggio, as his successor. Stephen Riggio later stepped down from the position in 2010.

Expansion of Barnes & Noble Stores

In 2005, Barnes & Noble opened a new store in Morgantown, West Virginia, marking its presence in all 50 states. The company planned to continue opening more stores annually, estimating room for 300 to 400 more Barnes & Noble stores.

Launch of Barnes & Noble Nook e-reader

In 2009, Barnes & Noble entered the e-reader market by launching its own device called the Nook. This move came after Amazon had already introduced the Kindle two years earlier.

Borders Group bankruptcy and closure

Following the bankruptcy and closure of Borders Group in 2011, Barnes & Noble became the last national bookstore chain in the United States.

Microsoft invests in Nook

Microsoft invested $300 million for a 17.6% stake in Nook, valuing the business at about $1.7 billion.

Michael Huseby replaces William Lynch as CEO

After William Lynch resigned in mid-2013, Michael Huseby took over as the Chief Executive Officer of Barnes & Noble in early 2014.

Spin-off of Barnes & Noble College Booksellers

In 2015, Barnes & Noble spun off its college bookstore operations into a separate company called Barnes & Noble Education.

Barnes & Noble closes Nook App Store and Nook Video

Barnes & Noble announced the closure of the Nook App Store and Nook Video, as well as the Nook Store in the UK, while continuing to sell e-books, digital magazines, and newspapers in the US.

Demos Parneros becomes CEO of Barnes & Noble

Demos Parneros was appointed as the Chief Executive Officer of Barnes & Noble in April 2017, following his role as Chief Operating Officer since November 2016.

Barnes & Noble Board of Directors Entertains Offers

On October 3, 2018, Barnes & Noble's board of directors announced they would consider offers to buy the company. This led to a significant increase in the company's stock price.

Elliott Management buys Barnes & Noble

On June 7, 2019, Elliott Management, a hedge fund, acquired Barnes & Noble for $638 million, leading to the company going private. The move was seen as crucial for the publishing industry, with fears of catastrophic consequences if Barnes & Noble had folded.

Barnes & Noble Temporarily Closes Stores Due to COVID-19

In March 2020, Barnes & Noble announced the temporary closure of 400 stores and the halt in magazine sales due to the COVID-19 pandemic. The company also made changes to its acquisition process under James Daunt's leadership.

Release of Nook 10" HD tablet in partnership with Lenovo

Barnes & Noble announced the release of a new 10-inch Android-based tablet named the Nook 10" HD in partnership with Lenovo.

Barnes & Noble Refurbishes Stores During Pandemic

In April 2022, The New York Times reported that Barnes & Noble utilized the temporary closure of stores during the pandemic to refurbish them. James Daunt's strategies were credited with improving sales both in-store and online.

Barnes & Noble serving over 600 communities

As of 2024, Barnes & Noble is currently serving over 600 communities in all 50 states, solidifying its position as the top book retailer in the United States.

End of the Timeline
Barnes & Noble

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