Borders collapse and now Barnes and Noble having severe bottom line problems.
I spent some of last week digging into the financial statements of Barnes & Noble, and I was shocked at how bad they are. Revenue from its website and from Nook (the company’s e-reader) has plummeted. Sales inside its stores are falling, too. It’s plausible that Barnes & Noble will not survive.
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| Some of its problems stem from poor decisions by its management. But keep in mind that Borders — once the country’s other big bookstore chain — went out of business in 2011. So some larger forces are at work here. | ||
| What are they? The growing power of gigantic technology firms like Amazon. They’re strong enough to create existential problems for their rivals. And as much as many of us — including me — may enjoy Walmart, E-bay, Etsy and Amazon’s service, I think it’s also important to recognize the larger problems that Big Tech behemoths are causing. | ||
| Amazon’s growing dominance isn’t good for the book business or for the country. |
Monday, May 7, 2018
Barnes and Noble in Financial Trouble ?
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