BNED
{{Use mdy dates|date=September 2022}}
{{Infobox company
| name = Barnes & Noble Education, Inc.
| logo = BNED logo.svg
| logo_size =
| type = Public
| traded_as = {{nyse|BNED}}
S&P 600 component
| predecessor = Corporate spin-off from Barnes & Noble, Inc.
| foundation = {{start date and age|2015|08|03}}
| location_city = Basking Ridge, New Jersey
| location_country = United States
| locations = 1,366 (2023) {{clarification needed|date=November 2024|reason=Locations of what? College bookstores that are managed by BNED? Bookstore owned by BNED? At most, BNED manages ~700 campus bookstores but own much fewer than that number. It appears that the numbers were obtained from the 2023 10K which also includes VITURAL bookstores (i.e. websites). According to the instructions for using the Infobox template, the number of locations should only include the number of PHYSICAL RETAIL locations and not warehouse nor websites.}}
| key_people = Jonathan Shar (CEO)
| products =
| brands = Yuzu digital textbook platform
| revenue = {{increase}} {{US$|1.54 billion|link=yes}} (2023)
| operating_income = {{decrease}} {{US$|-66 million}} (2023)
| net_income = {{nowrap|{{decrease}} {{US$|-102 million}} (2023)}}
| assets = {{decrease}} {{US$|980 million}} (2023)
| equity = {{decrease}} {{US$|131 million}} (2023)
| num_employees = 4,620 (2023)
| footnotes = Financials {{asof|2023|04|29|lc=y|df=US}}.{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1634117/000163411723000032/bned-20230429.htm |title=Barnes & Noble Education, Inc. 2023 Annual Report (Form 10-K) |date=July 31, 2023 |publisher=U.S. Securities and Exchange Commission}}
| divisions = {{ublist|Barnes & Noble College|MBS Textbook Exchange}}
| homepage = {{URL|http://www.bned.com/}}
}}
Barnes & Noble Education, Inc. (doing business as BNED,{{Cite web |date=2019-03-10 |title=About {{!}} Barnes and Noble Education |url=https://www.bned.com/about/ |access-date=2023-05-02 |language=en-US}} after its New York Stock Exchange ticker symbol) is one of the largest operators of college bookstores in the United States.{{cite news |last1=Rosen |first1=Judith |title=College Stores Adapt to Change |url=https://www.publishersweekly.com/pw/by-topic/industry-news/bookselling/article/79300-college-stores-adapt-to-change.html |access-date=February 1, 2021 |work=Publishers Weekly |issue=February 15, 2019}} 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.{{cite news |last1=Maurer |first1=Mark |title=Barnes & Noble Education CFO Eyes More Cuts as Campuses Remain Closed |url=https://www.wsj.com/articles/barnes-noble-education-cfo-eyes-more-cuts-as-campuses-remain-closed-11609165800 |access-date=February 1, 2021 |newspaper=Wall Street Journal |date=December 28, 2020 |publisher=Dow Jones & Company}} The company is headquartered in Basking Ridge, New Jersey.{{cite web |url=http://www.bncollege.com/contact_visit.aspx |title=Directions |archive-url=https://web.archive.org/web/20110828201041/http://www.bncollege.com/contact_visit.aspx |archive-date=August 28, 2011 |work=Barnes & Noble College Booksellers |access-date=July 24, 2011 |quote=Barnes & Noble College Booksellers 120 Mountain View Boulevard, Basking Ridge, NJ 07920}}
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.{{cite news |last1=Milliot |first1=Jim |title=B&N Will Separate College from Trade, Nook Units |url=https://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/65708-b-n-will-separate-college-from-trade-nook-units.html |access-date=February 1, 2021 |work=Publishers Weekly |date=February 26, 2015}}
The company's main competitor in the management of on-campus college bookstores industry is Follett.{{cite news |url=https://www.publishersweekly.com/pw/by-topic/industry-news/bookselling/article/76150-rethinking-college-stores.html |title=Rethinking College Stores |first=Judith |last=Rosen |date=February 23, 2018 |work=Publishers Weekly}} It is not unusual for college campuses to replace their bookstore operators with their main rival after the current store management contracts expires.{{cite news |url=https://news.nd.edu/news/notre-dame-partners-with-barnes-noble-college-to-manage-bookstore-properties/ |title=Notre Dame partners with Barnes & Noble College to manage bookstore properties |date=June 28, 2021 |first=Sue |last=Ryan |work=University of Notre Dame}}{{cite news |url=https://thedailycougar.com/2019/05/28/follett-replaces-barnes-noble/ |title=Follett replaces Barnes & Noble as bookstore provider |first=McKenzie |last=Misiaszek |date=May 28, 2019 |newspaper=The Cougar}}
History
In February 2015, Barnes & Noble had announced plans to spin off its college bookstore assets and create a separate company called Barnes & Noble Education.{{Cite news |url=http://fortune.com/2015/02/26/barnes-noble-college-spinoff/|title=Barnes & Noble is spinning off its college store business |magazine=Fortune |access-date=August 30, 2018 |first=John |last=Kell |date=February 26, 2015}} On August 3, 2015, Barnes & Noble Education, Inc. began trading on the New York Stock Exchange under the ticker symbol, "BNED".{{cite news |url=https://www.thestreet.com/story/13241726/1/barnes-and-noble-education-spins-off-looks-for-growth-in-digital-textbooks-colleges.html |title=Barnes and Noble Education Spins Off, Looks for Growth in Digital Textbooks, Colleges: Barnes and Noble Education rang the opening bell at the New York Stock Exchange after spinning off from Barnes and Noble, and will have its own board and management team. |website=TheStreet.com |date=August 3, 2015 |first=Rhonda |last=Schaffler}}{{Cite news |url=https://www.usatoday.com/story/money/2017/08/30/barnes-noble-education-shares-plunge-earnings-miss/615691001/ |title=Barnes & Noble Education shares plunge on earnings miss |newspaper=USA Today |access-date=August 30, 2018 |first=Kevin |last=McCoy |date=August 30, 2017}} The company operates stores dedicated to selling college textbooks, both on and off campus.{{cite news |work=Crain's New York |url=http://www.crainsnewyork.com/article/20140107/RETAIL_APPAREL/140109914/barnes-noble-closes-the-book-on-fifth-ave-store |title=Barnes & Noble closes the book on Fifth Avenue Store |date=January 6, 2014}}
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.{{cite news |url=https://magazine.promomarketing.com/article/barnes-noble-education-acquires-promoversity/ |title=Acquires Promoversity |first=Brendan |last=Menapace |date=June 24, 2016 |work=Promo Marketing Magazine}}
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.{{cite news |url=http://www.kbia.org/post/barnes-and-noble-education-buys-mbs-textbook-exchange |title=Barnes and Noble Education Buys MBS Textbook Exchange |website=KBIA |date=March 1, 2017 |first=Beatriz Costa |last=Lima}}{{cite press release |url=https://www.businesswire.com/news/home/20170228005977/en/Barnes-Noble-Education-Acquires-MBS-174.2-Million |title=Barnes & Noble Education Acquires MBS for $174.2 Million |work=Business Wire |date=February 28, 2017 |author=}}
By December 2018, Barnes & Noble Education had operated or managed 773 campus bookstores under contracts.{{cite press release |url=https://www.businesswire.com/news/home/20181204005215/en/Barnes-Noble-Education-Reports-Quarter-Fiscal-Year |title=Barnes & Noble Education Reports Second Quarter Fiscal Year 2019 Financial Results |work=Business Wire |date=December 4, 2018 |author=}} 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.
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."{{cite news |url=https://www.forbes.com/sites/ellenduffer/2019/07/28/barnes--noble-education-declines-acquisition-offer/ |title=Barnes & Noble Education Declines Acquisition Offer |magazine=Forbes |date=July 28, 2019 |first=Ellen |last=Duffer}} 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.
=Digital Student Solutions division=
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.{{cite press release |url=https://www.businesswire.com/news/home/20160308005868/en/Barnes-Noble-Education-Announces-Acquisition-LoudCloud-Systems |title=Barnes & Noble Education, Inc. Announces the Acquisition of LoudCloud Systems |work=Business Wire |date=March 8, 2016 |author=}}
In August 2017, Barnes & Noble Education acquired Student Brands for $58.5 million.{{cite news |url=https://www.publishersweekly.com/pw/by-topic/industry-news/industry-deals/article/74428-b-n-education-buys-student-brands-for-58-5-million.html |title=B&N Education Buys Student Brands for $58.5 Million |newspaper=Publishers Weekly |date=August 7, 2017 |first=Jim |last=Milliot}}
In August 2018, Barnes & Noble Education acquired PaperRater, a service that helps students write papers and identify plagiarism.{{cite news |url=https://www.marketwatch.com/press-release/barnes-noble-education-acquires-paperratercom-2018-08-22 |title=Barnes & Noble Education Acquires PaperRater.com |website=MarketWatch |date=August 22, 2018 |author=}}
References
{{reflist}}
External links
{{Portal|New Jersey|Books|Companies}}
- [http://www.bncollege.com/ Barnes & Noble College]
{{DEFAULTSORT:Barnes and Noble Education}}
Category:Bernards Township, New Jersey
Category:Chain bookstores of the United States