Company type | Public |
---|---|
NYSE: BNED S&P 600 component | |
Predecessor | Corporate spin-off from Barnes & Noble, Inc. |
Founded | August 3, 2015 |
Headquarters | , United States |
Number of locations | 1,366 (2023) [1] [ clarification needed ] |
Key people | Michael P. Huseby (CEO, chairman) |
Brands | Yuzu digital textbook platform |
Revenue | US$1.54 billion (2023) |
US$−66 million (2023) | |
US$−102 million (2023) | |
Total assets | US$980 million (2023) |
Total equity | US$131 million (2023) |
Number of employees | 4,620 (2023) |
Divisions |
|
Website | www |
Footnotes /references Financials as of April 29,2023 [update] . [1] |
Barnes & Noble Education, Inc. (doing business as BNED, [2] after its New York Stock Exchange ticker symbol) is one of the largest operators of college bookstores in the United States. [3] As of the end of 2020, Barnes & Noble Education operated 760 campus bookstores and school-branded e-commerce sites through its Barnes & Noble College Booksellers division. [4] The company is headquartered in Basking Ridge, New Jersey. [5]
BNED was part of the Barnes & Noble national retail bookstore chain until 2015, when Barnes & Noble separated its higher-education operation from its retail trade stores and Nook brand ebook operation. [6]
The company's main competitor in the management of on-campus college bookstores industry is Follett. [7] It is not unusual for college campuses to replace their bookstore operators with their main rival after the current store management contracts expires. [8] [9]
In February 2015, Barnes & Noble had announced plans to spin off its college bookstore assets and create a separate company called Barnes & Noble Education. [10] On August 3, 2015, Barnes & Noble Education, Inc. began trading on the New York Stock Exchange under the ticker symbol, "BNED". [11] [12] The company operates stores dedicated to selling college textbooks, both on and off campus. [13]
In June 2016, Barnes & Noble Education completed the acquisition of Promoversity, a custom merchandise supplier and e-commerce business that works with the collegiate bookstore business and its customers. [14]
In February 2017, Barnes & Noble Education had acquired MBS Textbook Exchange, a major textbook distributor based in Columbia, Missouri, for $174.2 million in cash. [15] [16]
By December 2018, Barnes & Noble Education had operated or managed 773 campus bookstores under contracts. [17] Two years later, Barnes & Noble Education operated 760 campus bookstores and school-branded e-commerce sites through its Barnes & Noble College Booksellers division at the end of 2020. [4]
In July 2019, BNED revealed that the company had turned down several offers by California-based Bay Capital Finance to take over the company citing that the offers by Bay Capital were "substantially undervalued BNED, were highly conditional and not credible." [18] Unlike its former parent company, BNED was diversifying its business by the acquisition of many digital services companies to increase the number of services offered by its Digital Student Solutions division during its past four years as an independent company.
In March 2016, Barnes & Noble Education enlarged their Digital Student Solutions online services division by acquiring LoudCloud Systems, a digital platform and analytics provider to clients in higher education, the for-profit sector, and K-12 segment. [19]
In August 2017, Barnes & Noble Education acquired Student Brands for $58.5 million. [20]
In August 2018, Barnes & Noble Education acquired PaperRater, a service that helps students write papers and identify plagiarism. [21]
Borders Group, Inc. was an American multinational book and music retailer based in Ann Arbor, Michigan, United States. In its final year, the company employed about 19,500 people throughout the U.S., primarily in its Borders and Waldenbooks stores.
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 600 retail stores across all 50 U.S. states.
A textbook is a book containing a comprehensive compilation of content in a branch of study with the intention of explaining it. Textbooks are produced to meet the needs of educators, usually at educational institutions. Schoolbooks are textbooks and other books used in schools. Today, many textbooks are published in both print and digital formats.
Leonard Stephen Riggio was an American businessman. He served as executive chairman of book store chain Barnes & Noble and was its largest shareholder from 1971 until the sale of the company to the hedge fund Elliott Investment Management in 2019. Under his leadership the company expanded significantly from a single retail location on 105 Fifth Avenue in New York City to a nationwide chain with 600+ stores, which it did with acquisitions and mergers of competing chain stores including his takeover of B. Dalton in 1986, which was supported by a major investment from the Dutch retailer Vendex International and Drexel Burnham Lambert–issued junk bonds.
Pearson Education, known since 2011 as simply Pearson, is the educational publishing and services subsidiary of the international corporation Pearson plc. The subsidiary was formed in 1998, when Pearson plc acquired Simon & Schuster's educational business and combined it with Pearson's existing education company Addison-Wesley Longman. Pearson Education was restyled as simply Pearson in 2011. In 2016, the diversified parent corporation Pearson plc rebranded to focus entirely on education publishing and services, and as of 2023 Pearson Education is Pearson plc's main subsidiary.
Bookselling is the commercial trading of books which is the retail and distribution end of the publishing process.
Computer Literacy Bookshops was a local chain of bookstores selling primarily technical-oriented books in Northern California. It was founded in 1983 in Sunnyvale, California, where its concentration in technical books fit well with its Silicon Valley customer base.
B. Dalton Bookseller was an American retail bookstore chain founded in 1966 by Bruce Dayton, a member of the same family that operated the Dayton's department store chain. B. Dalton expanded to become the largest retailer of hardcover books in the United States, with 779 stores at the peak of the chain's success. Located mainly at indoor shopping malls, B. Dalton competed primarily with Waldenbooks. Barnes & Noble acquired the chain from Dayton's in 1987 and continued to operate it until a late 2009 announcement that the last 50 stores would be liquidated by January 2010. B. Dalton was later revived by rebranding a Barnes & Noble location in 2022.
Ingram Content Group is an American service provider to the book publishing industry, based in La Vergne, Tennessee. It is a subsidiary of Ingram Industries.
Bartleby.com is an American electronic text archive, headquartered in Los Angeles (US) and named for Herman Melville's story "Bartleby, the Scrivener". It is a commercial website operated by Barnes & Noble Education, though its repository of texts can still be accessed. The repository has four main categories: reference, verse, fiction, and nonfiction.
Follett Corporation is an American technology company headquartered in Westchester, Illinois. Follett is a provider of educational services and products to colleges, schools, and libraries.
Baker & Taylor, a distributor of books to public and academic libraries and schools, has been in business for over 190 years. It is based in Charlotte, North Carolina and currently owned by President & CEO Amandeep Kochar. Before being acquired by Follett in 2016, Baker & Taylor had $2.26 billion in sales, employed 3,750, and was #204 on Forbes list of privately owned companies in 2008.
Chegg, Inc., is an American education technology company based in Santa Clara, California. It provides homework help, digital and physical textbook rentals, textbooks, online tutoring, and other student services.
Student Brands is a Los Angeles County-based company that owns and operates a network of educational websites and applications.
Bookstop Inc. was a Texas-based chain of bookstores that was at one time the fourth-largest bookselling chain in the United States. In 1989 Barnes & Noble acquired the company, at which point it became a subsidiary of Barnes & Noble. The chain also did business under the name Bookstar due to trademark conflicts in other states.
Nebraska Book Company, is a wholly owned subsidiary of Nebraska Book Holdings, Inc. (NBH), which also includes PrismRBS, Campus Store Design, and Campus Advisory Services. NBC was Founded in 1915 with a single college store near the University of Nebraska campus by E.H. "Red" Long, and it is still headquartered in Lincoln, Nebraska. Following World War II, when the supply of new textbooks could not meet the demand created by returning ex-GI students, NBC began buying books back from students at the end of the term and reselling them as used, helping to develop a used textbook industry. NBC provides wholesale textbook distribution, retail technology and consulting services to approximately 2,500 bookstores.
RBMedia is an audiobook publishing company with sales globally. Headquartered in Landover, Maryland, it claims to be the largest audiobook publisher in the world.
VitalSource Technologies is an education technology and digital content company founded in 1994. The company works with companies, universities, and publishers and resellers, providing digital course materials to users. VitalSource has offices in Raleigh, North Carolina; Boston, Massachusetts; San Francisco, California; Seattle, Washington; as well as in England and Australia.
Barnes & Noble College Booksellers 120 Mountain View Boulevard, Basking Ridge, NJ 07920