Barnes and Noble's Len Riggio Dead at 83 - Publishing Perspectives

R.I.P. Mr. Riggio

According to a post by Porter Anderson at the Publishing Perspectives site Barnes and Noble founder Len Riggio has died. After purchasing the original Barnes and Noble store he turned it into a nationwide chain.

 

To read the full post tootle over to Len Riggio

Holiday Comps Rose 4.0% at B&N - Publishers Weekly

Today, Panzer made a trip to the Publishers Weekly site. With a little digging around our traveling kitty boy found a post about Barnes and Noble's holiday sales figures.

I knew they could do it.

According to Jim Milliot, Barnes and Noble CEO Len Riggio reported an increase in holiday sales for the company's stores. Barnes and Noble same store holiday sales comparing 2017 to 2018 rose 4 percent. This was due in part to increased advertising by the company in 2018. The company's order online-pickup in store feature also contributed to the increased sales figures.

Panzer says, "This little kitty knew the order online-pickup in store feature would help sales because it's faster (just search the website) and less expensive (no shipping charges)."

Note: This is a short post. Bring a cup of tea for today's reading selection.

To read the post tootle over to Barnes and Noble sales

B&N Considering a Sale - Publishers Weekly

Panzer's trip into the Catosphere today took him to the Publishers Weekly site. With no digging at all our furry kitty boy found a post about the possible sale of Barnes and Noble.

According to Jim Milliot, Barnes and Noble is open to the sale of the company. Yesterday, Panzer told you about the possible sale news. Jim Milliot's Publishers Weekly post is an expansion of the information in yesterday's Chicago Business Journal post. Without naming any entity Barnes and Noble says "multiple parties" are interested in buying the company. It's also reported Chairman Leonard Riggio is also interested in buying the company. The post includes links to other posts about the possible Barnes and Noble sale.

Why sell? They're opening new stores.

Panzer says, "This little kitty wants to know who these unnamed possible interested buyers are?"

Note: This is a medium-length post. Bring a cup of tea and a chocolate chip cookie (biscuit) for today's reading selection.

To read the post tootle over to  Barnes and Noble

To read yesterday's post tootle over to Barnes and Noble sale

 

Len Riggio Says He's Ready to Lead B&N Through the Holidays - Publishers Weekly

Panzer was tootling around in the Catosphere when he decided to make a stop at the Publishers Weekly site. With a little digging in the posts there our inquisitive kitty boy found one about Barnes and Noble's future plans.

How can he see the holidays already?

According to Jim Milliot, Barnes and Noble founder Len Riggio is ready to lead the bookstore through the holiday season and has plans for before and beyond the holidays. Those plans include opening three more prototype bookstores by year's end. (One is slated to open October 3.)  Mr. Riggio believes there will be a rise in all the company bookstores' holiday sales. He also believes the Nook and bn.com are important parts of the company. As far as picking a new CEO he would like to see someone with experience outside the book selling arena, believing that's necessary to Barnes and Noble's growth. There's more information about Mr. Riggio's plans for the company included in the post.

Panzer says, "Hmm ... This little kitty agrees with him about the Nook and bn.com."

Note: This is a long post. Bring a cup of tea and two muffins for today's reading selection.

To read the post tootle over to Barnes and Noble

Q1 Sales Down at B&N As Losses Rise - Publishers Weekly

Panzer was tootling around in the Catosphere when he heard crying and weeping outside the Panzermobile. Following all the noise took our compassionate kitty boy to the Publishers Weekly site. There with no digging at all he found a post about Barnes and Noble's first quarter sales.

There must be a way to turn sales around.

According to the post by Jim Milliot, in a conference call Chairman Len Riggio said Barnes and Noble's first quarter sales figures were down 6.9 percent compared to last year. The sales figures included books, Nooks and general retail sales. While the online book order and sales system got off to bad start, the problems appear to be fixed. Sales revenues were actually down lower, however, part of the decline was offset by expense reductions. The company still plans to open and/or move four stores in the coming quarter. Chairman Len Riggio also addressed the Demos Parneros lawsuit against the company. Contrary to the assertions in the lawsuit, Chairman Riggio said former CEO Parneros was fired for sexual harassment and bullying. There is a lot of information covered in the post.

Panzer says, "Hmm ... The new online book (paperback or hardback) ordering system should help increase sales. You can order a copy of a paperback online and then pick it up at your nearest Barnes and Noble store. This little kitty looked and saw you can even order Cat Wisdom for humans there."

Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.

To read the post tootle over to Barnes and Noble

Parneros Sues B&N for Defamation of Character - Publishers Weekly (PW)

As Panzer was tootling around in the Catosphere today he decided to make a stop at the Publishers Weekly site. With no digging at all our inquisitive kitty discovered a post about Barnes and Noble's former CEO.

According to Jim Milliot, Barnes and Noble's former CEO Demos Parneros has sued the company. Panzer told you about the termination of CEO Parneros when it happened in July.  Mr. Parneros states in his lawsuit that the company fired him without caused and defamed his character. It's also stated that Barnes and Noble was going to be sold; but, when the offer was withdrawn, he was fired so Len Riggio could take over the company again. Mr. Parneros also denies any sexual harassment claims. In rebuttal the Barnes and Noble Board of Directors states, Mr. Demos was fired on advise of legal counsel after an internal investigation showed behavior that violated company policy.

But ... You're the one who told everybody.

Panzer says, "Hmm ... This is an interesting court case because this kitty hadn't heard anything about sexual harassment until Mr. Parneros brought it up in court."

Note: This is a long-medium length post. Bring a cup of tea and one and a half muffins for today's reading selection.

To read the post tootle over to Barnes and Noble Lawsuit

To read the post about Demos Parneros' termination from Barnes and Noble tootle over to Barnes and Noble CEO Termination

BookExpo 2018: B&N Boss Says More Bookstores the Better - Publishers Weekly (PW)

Today's trip into the Catosphere took Panzer to the Publishers Weekly site. There our traveling kitty found a post about the opening speech at the BookExpo 2018.

According to the post by Ed Nawotka, Barnes and Noble Chairman Len Riggio presented the opening speech at this year's BookExpo. The speech was centered on independent bookstores and chain bookstores co-existing. Mr. Riggio said readers are returning to physical books because they like the feel of a book and want to have a physical library. In order to accomplish this readers will need both independent and chain bookstores. He also stressed the importance of following new trends such as audio books.

Actually, real books never went away.

Panzer says, "Hmm ... Maybe, Mr. Riggio knows what he's talking about. ... Mom has a Kindle ereader, a PaperWhite and a huge pile of to be read real books."

Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.

To read the post tootle over to Barnes and Noble

Riggio Ups B&N Stake - Publishers Weekly

19 Day Until Christmas

Today's trip into the Catosphere took Panzer to the Publishers Weekly site. With just a little digging around there our kitty explorer found a post about the effects of Barnes and Noble's most recent sales report.

According to the post by Jim Milliot, Barnes and Noble founder Len Riggio increased his stock holdings in the company by 1 million shares. Mr. Riggio now owns 19.3 per cent of the company's stock. Last week Panzer told you about the impact of Barnes and Noble's quarterly sales slump on the company's stock price. The post also discusses Sandell Asset Management's proposed (and rejected) take over bid.

Panzer says, "Hmm ... This little kitty thinks when the stock price is low it's a perfect time for Mr. Riggio to buy more shares."

Note: This is a short post. Bring a cup of tea and half a muffin for today's reading selection.

To read today's post, tootle over to Barnes and Noble

To read the post about Barnes and Noble's quarterly sales slump, tootle over to Barnes and Noble's sales slump

B&N Dismisses Takeover Proposal - Publishers Weekly

Today's trip into the Catosphere took Panzer to the Publishers Weekly site. There our traveling kitty boy found a post about Barnes and Noble.

Huh?

According to the post by Jim Milliot, Barnes and Noble announced Sandell Asset Management made an  offer to take Barnes and Noble private (buy?) for a reported $650 million.* Apparently, Sandell would start a new company, all the Barnes and Noble shareholders would be required to put their shares into the new company, and then Sandell would control the new company. Barnes and Noble stated in their announcement the company (and founder Len Riggio) had rejected the offer.

Panzer says, "Sandell wants to do what?"

Note: This is a short post. Bring half a cup of tea for today's reading selection.

To read the post, tootle over to Barnes and Noble

*Updated to correct amount offered.

Riggio Backs Parneros at B&N Annual Meeting - Publishers Weekly

Today, Panzer was tootling around in the Catosphere, when he heard crying and shouting. Following all the noise took our kitty pilot to the Publishers Weekly site. With no digging at all he found the cause of all the angst in a post about the Barnes and Noble Annual Meeting.

Who are these technology companies?

According to the post by Jim Milliot, Barnes and Noble Chairman Len Riggio started off by expressing his confidence in CEO Demos Parneros. This was followed by the company's plan to have smaller stores. However, the big news for ebook authors from Mr. Riggio was that Nook and ebooks aren't a good fit for Barnes and Noble's future. The company will have "partner technology companies" take care of their digital presence. Barnes and Noble will concentrate on their bricks and mortal stores.

Panzer says, "Hmm ... Not sure what this means for ebook authors. This little kitty makes a lot of ebook sales at Barnes and Noble."

Note: This is a short-medium post. Bring a cup of tea and a muffin for today's reading selection.

To read the post, tootle over to Barnes and Noble Annual Meeting

Investor Urges B&N To Find a Buyer - Publishers Weekly

On today's trip into the Catosphere Panzer was greeted by booing and hissing and crying. Following all the clamor took our adventuresome kitty to the Publishers Weekly site. With no digging at all he discovered that a post about Barnes and Noble was causing all the noise.

According to the post by Jim Milliot, in a letter to the Board of Directors an investor in Barnes and Noble is suggesting the company put itself up for sale. The investor, Sandell Asset Management Corp., says in their letter they feel Barnes and Noble should either be bought/merged by a larger company or by a private firm and taken private. The letter also says company founder (and majority shareholder) Len Riggio has the financial resources to take the company private.  Included at the beginning of the post is a link to Sandell Asset Management Corp.'s letter to the Board of Directors.

Panzer says, "Hmmm ... This little kitty wonders if Sandell Asset Management Corp. thinks they can get more money for their stock if Barnes and Noble gets sold ... Because ... maybe the larger company they want to buy Barnes and Noble is ... Amazon? Or ... maybe because Mr. Riggio would pay more to keep Amazon from buying the company?"

That is one very long letter.

Note: This is a long-medium post. Bring a b-i-g cup of tea and three muffins for today's reading selection. If you plan to read Sandell Asset Management Corp.'s letter, bring a thermos of tea and a dozen muffins.

To read the post, tootle over to Barnes and Noble

B&N Names Demos Parneros CEO - Publishers Weekly

Panzer's trip into the Catosphere today took him to the Publishers Weekly (PW) site. There our inquisitive kitty boy found a post about Barnes and Noble.

According to the post by Jim Milliot, Barnes and Noble has a new CEO. Demos Parneros has been named to take over the position from Len Riggio. Mr. Parneros has been functioning in the Chief Operating Officer position since he was hired in November 2016. Mr. Parneros came to Barnes and Noble after leaving his position as President of Staples. In addition to the announcement of Mr. Parneros' appointment to the CEO position, there's information on Barnes and Noble's most recent sales figures included in the post.

I'll be watching what happens.

Panzer says, "Hmm ... At the end of the post there are some interesting hints about the possiblity of coming closings of some Barnes and Noble bricks and mortar stores."

Note: This is a longish-medium post. Bring a cup of tea and two muffins for today's reading selection.

To read the post, tootle over to Barnes and Noble CEO

Seattle's New Favorite Place to Drink: In the Bookstore - The Stranger

Chicken and tacos. Good idea.

Panzer was tootling around in the Catosphere when he stopped in at The Stranger site. This was our traveling kitty's first visit to the site so it took a little digging to find something for today's post. Finally, he found an interesting post about bookstores and restaurants. For several months Panzer has been telling you about Barnes and Noble CEO Len Riggio's plans for his new concept stores with their inside restaurants.

According to the post by Naomi Tomky, Barnes and Noble's new concept stores aren't the only ones serving food and alcohol in the bookstores. It turns out non Barnes and Noble affiliated bookstores in Seattle, Washington, have had restaurants with alcohol for a decade. In some you can order fried chicken or tacos with your alcoholic drinks before you go look for a new book.

Panzer says, "Hmm ... Okay ... lots of people in Seattle like to go to bookstores to eat and drink. ... So ... Why even bother to sell books there?"

Note: This is a l-o-n-g post.  Bring a cup of tea and three muffins.

To read the post, tootle over to alcohol in bookstores

Riggio Reaffirms Commitment to Bricks-and-Mortar - PW (Publishers' Weekly)

I don't understand.

Panzer's trip today took him to the Publishers' Weekly (PW) site. There our traveling kitty boy found a post about Barnes and Noble's holiday sales report. Last week Panzer told you about Barnes and Noble's 2016 bricks and mortar store holiday sales decline compared to 2015.

According to the post by Jim Milliot, Barnes and Noble CEO Len Riggio isn't worried about the in store sales decline. Although, bricks and mortar stores sales were down 9.1 percent and online sales at BN.com were up 2 percent, Mr. Riggio says he intends to stay with bricks and mortar stores. This year Barnes and Noble will close twelve under performing stores and open four new concept stores.

Panzer says, "Umm ... I'm just a little kitty and I don't understand human arithmetic. Please explain to me how if you close more stores than you open new ones that equals confidence?"

Note: This is a shortish-medium post. Bring a cup of tea and half a muffin.

To read the post, tootle over to bricks and mortar stores

To read Panzer's earlier post about Barnes and Noble's holiday sales report , tootle over to holiday sales

Barnes & Noble Appoints Demos Parneros as Chief Operating Officer - Press Release

Panzer was tootling around in the Catosphere when he made a planned stop at the Book Business site. After a little digging around our illustrious traveling kitty found a post about Barnes and Noble.

That's two cat lifetimes at one place.

According to the press release at the Book Business site, Barnes and Noble bookstores has a new Chief Operating Officer, Demos Parneros. Mr. Parneros comes to Barnes and Noble after working at Staple, Inc. since 1987. Mr. Parneros will bring his 30 years of business experience to work with Barnes and Noble CEO Len Riggio.

Panzer says, "MeWoW! Thirty years with the same company."

Note: This is a medium post. Bring a cup of tea and a muffin for today's reading session.

To read the post, tootle over to Barnes and Noble

Riggio Vows to Fight for B & N - PW (Publishers' Weekly)

Panzer was digging around at the Publishers' Weekly site. There our busy kitty found a post about Barnes and Noble's retail sales.  Panzer told you last week about their steep sales decline.

According to the post by Jim Milliot, Barnes and Noble founder and current CEO Len Riggio says he has plans to turn around the bookstore chain's retail sales. While still planning to open the new concept bookstores with restaurants which will sell alcohol, Mr. Riggio does say, if the concept stores don't perform as predicted, they may be changed. He also stated part of the cause of the decline in the bookstores' recent retail sales was book inventories were not maintained at sufficient levels at the stores and expenses were cut by reducing store personnel. Mr. Riggio intends to remedy both.

Do you think he reads the blog?

Panzer says, "Hmm ... This kitty has said it before ... No Books equals No Sales."

Note: This is a shortish-medium post. Just bring a cup of tea for today's reading selection.

To read the post, tootle over to Len Riggio

To read Panzer post last week about Barnes and Noble's sales decline, tootle over to retail sales

Sales at Barnes and Noble Down Over 6% in Q1 - PW (Publishers' Weekly)

Today's trip into the Catosphere took Panzer to the Publishers' Weekly site. There our kitty pilot discovered a post about Barnes and Noble's quarterly sales report.

It's simple. No books = No sales.

According to the post by Jim Milliot, Barnes and Noble's sales for the first quarter are reportedly down 6.6 percent over the same time period last year. The retail sales loss is blamed on lower overall book sales and lower adult coloring book sales in particular. According to CEO Len Riggio, there was a lack of inventory at the stores which is being rectified.

Panzer says, "Hmm ... A book store without books ... What could go wrong? ... No sales? ... This kitty thinks so."

Note: This is a medium length post. Bring a cup of tea and a muffin for today's reading selection.

To read the post, tootle over to Barnes and Noble sales

Barnes and Noble Ousts CEO, Ron Boire - PW (Publishers' Weekly)

Panzer was tootling around in the Catosphere when he heard strange noises coming from the PW (Publishers' Weekly) site. Zipping over, he discovered some news about Barnes and Noble. Our inquisitive kitty does like to keep up to date on the goings on at Barnes and Noble. Their ebook selling site is the main outlet for his ebook sales.

According to a post by Rachel Deahl, Barnes and Noble announced the ousting (termination) of CEO Ron Boire. This comes on the heels of the disclosure that the company's June revenue showed a 3.1 percent decline with losses from the bn.com site and Nook sales. In the wake of Mr. Boire's departure, Barnes and Noble founder Len Riggio announced he will postpone his retirement until a replacement is found. Book publishers asked about the news were surprised and unhappy with the announcement.

I'll never understand humans.

Panzer says, "Let me see  ... Barnes and Noble announced a while back they were going to concentrate on building up their brick and mortar stores' restaurants and serve alcohol in them ... and ... cut back on the Nook. ... Hmmm ... Now Nook sales are down ... and ... the bn.com site (which sells ebooks for the Nook) sales are down. Coincidence? This kitty thinks not."

Note: This is a medium length post. Bring a cup of iced tea and cookie (biscuit) for today's reading selection.

To read the post, tootle over to Barnes and Noble