Post by Omen on Jul 12, 2013 2:22:58 GMT -5
What the HECK?!? I had an idea the Barnes & Noble was struggling... but DANG!!!
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Check this out:
The abrupt resignation of the CEO of Barnes & Noble is raising questions about the future of the only remaining national bookstore chain in a digital age.
After three years as chief executive, William Lynch Jr., 43, resigned without explanation Monday. Two weeks ago, the company reported another unprofitable quarter – sales down 7.4% from a year ago, as its net loss doubled to $119 million.
The biggest financial problems are in the digital Nook division, which faces increasing competition from Amazon, Apple and others. Barnes & Noble also announced recently that it would stop making its own color tablet, the Nook HD, though would continue with its simpler Nook e-readers.
That raises questions about its digital strategy as well as the future of its 675 bookstores, down from a peak of 726 in 2008. The company already announced plans to open five new stores this year while closing another 15 to 20 as their leases expire.
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Ebooks and technology have set its hooks into the physical markets, what we are witnessing here are the results. This guy is 43yrs old which means he came up with the I.T. revolution. He was caught up in the wave of changes that washed over his company; not to mention, his method to ride the wave failed miserably. My thing is that I'm not sure that I saw the NOOK as a bad direction to take... or even as a product to create.
He tried to shift the company forward by increasing its digital presence, but he couldn't keep up with his competition. He began spending more and more money trying to keep the NOOK upgraded and updated until he became a failing technology business rather than a book selling company. I'm mixed about this result because it could have happened to anyone or any company.
Now? Heck, I don't know WHAT I would recommend to save B&N. It is the LAST national book chain.
Not to sound sadistic or mean, though... there is something good about this. Bookstores are going to start shrinking down to their original roots in small towns. They're going to become coffee shops, cafes, community hang-outs, and light eateries as the fierce 'business' of book sales drift to the digital arena and the return of the old culture of sitting in a small place, sipping on a fruit drink, while talking to other people about a great story from a cool author, find its way back home.
Maybe the small downtown main-streets will find a place in our new world as well. Some say, the past is always fated to return when tomorrow continues to fail.
-Omen
------
Check this out:
The abrupt resignation of the CEO of Barnes & Noble is raising questions about the future of the only remaining national bookstore chain in a digital age.
After three years as chief executive, William Lynch Jr., 43, resigned without explanation Monday. Two weeks ago, the company reported another unprofitable quarter – sales down 7.4% from a year ago, as its net loss doubled to $119 million.
The biggest financial problems are in the digital Nook division, which faces increasing competition from Amazon, Apple and others. Barnes & Noble also announced recently that it would stop making its own color tablet, the Nook HD, though would continue with its simpler Nook e-readers.
That raises questions about its digital strategy as well as the future of its 675 bookstores, down from a peak of 726 in 2008. The company already announced plans to open five new stores this year while closing another 15 to 20 as their leases expire.
-----
Ebooks and technology have set its hooks into the physical markets, what we are witnessing here are the results. This guy is 43yrs old which means he came up with the I.T. revolution. He was caught up in the wave of changes that washed over his company; not to mention, his method to ride the wave failed miserably. My thing is that I'm not sure that I saw the NOOK as a bad direction to take... or even as a product to create.
He tried to shift the company forward by increasing its digital presence, but he couldn't keep up with his competition. He began spending more and more money trying to keep the NOOK upgraded and updated until he became a failing technology business rather than a book selling company. I'm mixed about this result because it could have happened to anyone or any company.
Now? Heck, I don't know WHAT I would recommend to save B&N. It is the LAST national book chain.
Not to sound sadistic or mean, though... there is something good about this. Bookstores are going to start shrinking down to their original roots in small towns. They're going to become coffee shops, cafes, community hang-outs, and light eateries as the fierce 'business' of book sales drift to the digital arena and the return of the old culture of sitting in a small place, sipping on a fruit drink, while talking to other people about a great story from a cool author, find its way back home.
Maybe the small downtown main-streets will find a place in our new world as well. Some say, the past is always fated to return when tomorrow continues to fail.
-Omen
