Barnes & Noble CEO on Strategy, Book Sales and Possible IPO

Summary

Barnes & Noble CEO James Daunt discusses the company's turnaround strategy driven by store-level autonomy, removal of non-book merchandise, and a focus on creating enjoyable community spaces. He highlights robust physical book demand among younger readers, ongoing U.S. store expansion of about 60 openings per year, and the enduring appeal of bookstores across demographics. An IPO is mentioned as a possibility but not an immediate focus.

• James Daunt, CEO of Barnes & Noble, explains how giving local store teams freedom to tailor the experience revived sales.
• The chain removed unrelated products like batteries and electronics, refocusing on books and complementary items such as vinyl and games.
• Barnes & Noble plans to open roughly 60 new stores annually, targeting thousands of US communities that lack a bookstore.
• Gen-Z and young readers are actively buying physical books, especially romance and fantasy, boosted by social media like BookTok.
• Daunt says the narrative of the death of physical books was exaggerated; bookstores appeal to all ages and demographics.
• The CEO defers questions on a potential IPO, stating that such decisions remain with owner Elliott Management.