This isn’t the post I planned on writing this morning. But there are times when you have to throw plans out the window and adapt. This is one of those times and you can blame Sarah for lighting the fire. You see, she left me a message after I turned off the computer last night that started the wheels turning. Then I read the comments to Dave’s post and the idea took hold. So welcome to the latest installment of “Reality vs Perception” or “How We Still Deceive Ourselves About Publishing”. Read more
Posts tagged ‘B&N’
So she’s run away to have some fun. At least I hope she has. In the meantime, here’s an echo of my post today over on my personal blog. B&N is showing that old is new or new is old or some such thing.
Barnes & Noble “New” Concept a Return to Old
I’ve not made a secret of the fact I worry for the future of bookseller Barnes & Noble. For the last decade, I’ve seen signs the company is in trouble. It goes beyond the revolving door in the executive suite. It goes beyond the problems traditional publishing is having. It is a combination of a large number of factors that, ultimately, almost all rest in the board room. But at least the company hasn’t given up. That’s the best I can say. Read more
I guess it’s inevitable that Barnes & Noble seems to be dominating much of the publishing industry-related news of late. First, they fired yet another chief executive. Now the company is being run by a group of three, with Leonard Riggio looking over their shoulders. Then the company reported lower in-store sales–again. Now comes a story from Business Insider about what they think is wrong with the stores. There’s nothing unexpected there but it leaves a few things out, in my opinion.
So, what does BI say is wrong? Read more
To support these efforts, we are focused on attracting, retaining and developing top talent throughout the organization.I hate to say it but the continuing saga of Barnes & Noble is starting to bear too many similarities to the last year or so of Borders. The upper management makes sweeping statements meant to reassure stockholders. Yet, a close look at those statements shows they contain holes big enough to drive a tank — or a fleet of them — through. New agendas are announced and new programs put into place. Yet nothing really changes. Why? Because the suits at the top simply refuse to understand the changes in the industry and admit they’ve screwed up and need a new playbook.
The first misstep is the announcement of the new “book club”. Now, book clubs in bookstores is nothing new. In fact, locally owned bookstores have had them from the beginning. I can remember times when book clubs met at our local B&N. But this one is “different”. How? First, it’s “seasonal”. (Whatever the hell that means because the first title doesn’t yell “summer” to me.) Second, every B&N across the nation will be having the same book club/reading the same book at the same time. Oh, and you’ll get free coffee and a cookie. Whoopie — not. Read more
I promised this the other day and got sidetracked. This is my first chance to get back to it.
By now, everyone’s read or heard about the latest round of layoffs Barnes & Noble is instituting. Following the “how to slit your own business throat in one easy lesson” plan, it is laying off head cashiers, digital leads and others in their stores who are 1) full-time employees and 2) have the experience and knowledge that helps a store run smoothly. The company says it will save them tens of millions of dollars a year. Which it might, on a protected profit and loss sheet. What those projections don’t show are the number of customers and individual transactions that will be lost because customers can’t get help when needed, can’t get their questions answered and can’t find the books they want because they haven’t been unloaded from their boxes yet. Read more
I had this morning’s post all planned and then I read the business section for the Dallas Morning News. There, on the front page, was an article that had to be addressed. Barnes & Noble is opening a new store in Plano, TX (north of Dallas). That wouldn’t normally be news except for the type of store it is. This is one of their new Barnes & Noble Kitchen stores. Yes, you read that right — B&N “Kitchen”.
Here’s the basic premise. It is still a bookstore. Kind of. This 10,000 square foot store will still sell books. However, it will be stocking 17,000 titles as opposed to the 35,000 – 50,000 titles in its other stores. There will be no music in the new “kitchen” although you will still be able to buy art supplies and journals. (There is nothing in the story about whether you will find all the other non-book items you find at most B&N stores). The big change, however, is in the “kitchen” part of this store. There will be seating for 178 diners inside and on a patio. It will be open for breakfast, lunch and dinner and they are considering doing a Sunday brunch as well. Let’s not forget the bar either. You will be able to order wine or locally brewed beer, among others.
All that sounds like a company in search of an identity. According to the DMN, this version of the “kitchen” is smaller than the three others B&N have opened. They are still trying to figure out the market, etc. This doesn’t fill me with a great deal of hope because B&N has been trying to figure out the market — and failing to — for the last decade or more. Since 2010, the company has closed 114 stores. It has opened 17 stores during that same time. If that isn’t telling enough, their sales % change has been on the positive sign only twice during that same time period and the highest positive change was 1.4%.
Now they think they have found the right way to move forward. However, their own comments about the new store show they still don’t have a clue. This new store will open less than 2 miles from a “traditional” B&N. Carl Hauch, vice president of stores, sees no problem having two stores that close together because he thinks they will be serving different demographics. Yet, just above that comment, it is clear they are stocking the store based on demand from the traditional bookstore down the road. Is this an instance of the right hand saying one thing while the left hand believes something else or is this yet more of B&N not understanding what’s happening in the industry?
If you haven’t already, click on the link in the first paragraph and visit the Kitchen site. The first thing you see is food with a quote from Tolkien. If you keep reading you will finally see books mentioned but nothing else, other than the B&N name, would lead a casual browser of the site to know books are available.
What amazes me is how the company is relying on the new store, with its wine and beer, to be a draw for customers and yet is brags about its large manga selection in the YA section. B&N, and Borders before it, used to be a destination for families. Parents felt safe bringing their children and letting them browse the kids section while the parents looked for a book or had a cup of coffee. How many parents will feel the same now, knowing that someone can have been in the “kitchen” drinking and now, wine or beer in hand, is wandering the store? Plano is the belt buckle of the Bible Belt. This can blow up big time in B&N’s face if they aren’t careful.
As an author, the decrease in the footprint available for books is also worrisome. I welcome the news they will have more focus on local authors but they’ve said that before and it’s never really appeared. It is also another nail in the proverbial coffin for the store when it comes to indie and small press authors. It is already almost impossible to get our books on the shelves of B&N, not to mention having author events there. This means we need to let go of any hope they will work with us.
So here’s the question I have for B&N management — do you still consider yourself a bookseller or are you going to continue this transition to a restaurant that happens to also sell books? Or let’s make it easier. What do you see yourself as? I have a feeling that’s a question upper management hasn’t had a good answer to for years.
When I woke this morning, I had an idea for today’s post but wanted to make sure I had my facts straight. So I checked several sources and came away with several things to discuss today. All are things we need to think about as writers. I know, I know. Writers just want to write. Unfortunately, there is a great deal more to it now, whether you plan on going indie or traditional. Writing is a business and that means we have to make business considerations.
The biggest considerations we have to make today as writers is whether we want to go the traditional publishing route or go indie. There are pros and cons to both. We’ve discussed those factors time and again here at MGC, so I’m not going to spend a great deal of time rehashing them. However, there is one thing to take into consideration when making that decision you do need to know about.
When talking to writers about the big difference between indie and traditional publishing, the main difference you will hear is that traditional publishing can get you into bookstores. I knew very few writers, myself included, who would’t love to see their books on the shelves of the local store. As indies, that is a near impossibility, especially if there are no locally owned bookstores in the area. So that leaves us, whether we are traditionally published or indie, to hope for shelf space in Barnes & Noble, at least here in the States.
Unfortunately, the fiscal health of B&N has been in question for some time and those questions are growing louder. As of last Friday, stock in the company was down 17.04% for the year. That includes a 5.61% decrease in the last 30 days. For the past year, stock is down 24.43%. Think about that. In 12 months, the stock value of the company has declined close to 25% and this at a time when the S&P has risen more than 16%. If that news doesn’t trouble you as a writer, it should. B&N is the main bookstore in the United States. If you thought the publishing industry was rocked by the loss of Borders, think about what will happen if B&N goes under. Even if it doesn’t, do any of us doubt that it is going to have to greatly change its manner of operation? More stores are going to close as leases come up for renewal. How many of them will be opened in new locations? No nearly enough. Worse, the loss of brick and mortar stores means publishers will lose their bookstore advantage and, believe me, they aren’t ready for that to happen. Not yet and, I hate to say it, I’m not sure any of the Big 5 will be ready when — and if — that time actually comes. So it is up to the authors to take steps to protect themselves now. What those steps are is up to each individual author. But they need to know what is happening in the industry and not let events broadside them.
Next up is the latest in the Tate Publishing debacle. A year ago, Tate was hit with a class action law suit filed by its authors. It later closed its doors. Last week, Xerox won judgment against Tate for more than $2-million. This was after Tate’s lawyers withdrew from the case after they hadn’t been paid. The basic lesson to come from this is that, as a writer, you need to do your homework before submitting your work to anyone, much less before signing a contract. Tate’s reputation for having problems predated the class action law suit for quite a while and yet authors continued to submit to them. This is why using sites such as Preditors & Editors is so important. So is doing a simple Google search. You need to know who you are doing business with. Beyond that, you really should have an IP attorney look at contracts before you sign them. Publishers are in the business to make money — for themselves. Authors are merely cogs in the machine, cogs they feel are interchangeable.
Finally, I came across this article and I really, really hope it’s someone’s idea of an April Fool’s Day joke. I want to believe that it is. After all, any of us who have submitted our work to an editor or publisher only to have it rejected know how much that hurts. But to give up after trying with two books, especially in this day and age when indie has gained a strong foothold in the market, is beyond me. So is the oh-so-precious “I’m scarred” attitude. I really want to believe the author was trying to be funny on April Fool’s but considering the site where the post is published, I can’t be sure. What do you think?