barnes and noble

Barnes & Noble does business -- big business -- by the book. As the #1 bookseller in the US, it operates about 650 superstores throughout 49 states and the District of Columbia under the banners Barnes & Noble, Bookstop, and Bookstar, as well as about 200 mall stores using the names B. Dalton, Doubleday, and Scribner's. The company's GameStop subsidiary is the #1 US video game retailer with about 1,500 stores under the names Babbage's Etc., GameStop, and FuncoLand. Barnes & Noble owned about 75% of online book seller barnesandnoble.com after purchasing Bertelsmann's interest in 2003; Barnes & Noble then purchased all remaining shares and took the company private in May 2004.

Barnes & Noble dates back to 1873 when Charles Barnes went into the used-book business in Wheaton, Illinois. By the turn of the century, he was operating a thriving bookselling operation in Chicago. His son William took over as president in 1902. William sold his share in the firm in 1917, to C. W. Follett, who later built Follett Corp, and moved to New York City, where he bought an interest in established textbook wholesalers Noble & Noble. The company was soon renamed Barnes & Noble. It first sold mainly to colleges and libraries, providing textbooks and opening a large Fifth Avenue shop. Over the next three decades, Barnes & Noble became one of the leading booksellers in the New York region.

Freshman Leonard Riggio, who worked at a New York University bookstore to help pay for night school. He studied engineering but got the itch for bookselling. In 1965, at age 24, he borrowed $5,000 and opened Student Book Exchange NYC, a college bookstore. Beginning in the late 1960s, he expanded by buying other college bookstores.

In 1971 Riggio paid $1.2 million for the Barnes & Noble store on Fifth Avenue. He soon expanded the store, and in 1974 he began offering jaw-dropping, competitor-maddening discounts of up to 40% for best-sellers. Acquiring Marboro Books five years later, the company entered the mail-order and publishing business.

By 1986 Barnes & Noble had grown to about 180 outlets, which included 142 college bookstores. Along with Dutch retailer Vendex, that year it bought Dayton Hudson's B. Dalton mall bookstore chain, forming BDB Holding Corp. In 1989 the company acquired the Scribner's Bookstores trade name and the Bookstop and Bookstar su...

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... the company, including all of the voting power of Barnes & Noble College Bookstores, a private textbook seller.

The company is spinning off its GameStop subsidiary. In early October GameStop purchased some six million shares back from Barnes & Noble. On November 2 Barnes & Noble distributed the remaining shares it had in GameStop in a dividend to its shareholders.

Business Wire, November 3, 2004 Wednesday, 1:30 PM GMT, 748 words, Barnes & Noble to Open New Store at 30500 State Highway 181, Spanish Fort, Alabama; New Bookstore Debuts on No Copyright 2004 Business Wire, Inc.

Business Wire

November 3, 2004 Wednesday 1:30 PM GMTDISTRIBUTION: Business Editors; Community Editors LENGTH: 748 words HEADLINE: Barnes & Noble to Open New Store at 30500 State Highway 181, Spanish Fort, Alabama; New Bookstore Debuts on November 17 DATELINE: NEW YORK Nov. 3, 2004 BODY:vember 17 , NEW YORK Nov. 3, 2004

2. Copyright 2004 The New York Times Company

The New York Times

September 9, 2004 Thursday

Late Edition – Final SECTION: Section E; Column 1; The Arts/Cultural Desk; Pg. 1 LENGTH: 931 words HEADLINE: Huge Book Retailer Expands Its Publishing Role BYLINE: By EDWARD WYATT