The trick to being a big-box bookseller is to not be a big-box bookseller. So says Barnes & Noble CEO James Daunt, who's been credited with engineering a turnaround for the bookstore chain, in an interview with Axios.
The trick to being a big-box bookseller is to not be a big-box bookseller.So says Barnes & Noble CEO James Daunt, who's been credited with engineering a turnaround for the bookstore chain, in an interview with Axios.When Daunt took over in 2019 after B&N's sale to Elliott Management, the company was at risk of meeting the same fate as its erstwhile rival, Borders, which liquidated in 2011.
"There can be little doubt that Barnes & Noble has been revived and that most of its recent success comes down to the approach of James Daunt," GlobalData retail analyst Neil Saunders tells Axios in an email. "Returns are a central judgment by your customers as to whether you’ve put the right books in front of them," he says.In 2022, book sales totaled 788.7 million units, according to NPD Bookscan. That was down 6.5% from 2021 but still up 11.8% from pre-pandemic 2019.
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