Barnes and Noble Education

Leadership team

Mr. Michael P. Huseby (CEO & Exec. Director)

Mr. Thomas D. Donohue (Exec. VP & CFO)

Mr. Michael Connolly Miller (Exec. VP of Corp. Devel. & Affairs, Chief Legal Officer and Corp. Sec.)

Products/ Services

Education, Enterprise Software, Online Portals

Headquarters

Basking Ridge, New Jersey, United States

Established

1873

Company Registration

SEC CIK number: 0001634117

URL

https://www.bned.com

Overview

Location

Recognition and Award

References

Summary

Barnes & Noble Education, Inc. operates bookstores for college and university campuses, and K-12 institutions in the United States. It operates through three segments: Retail, Wholesale, and Digital Student Solutions. The company sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores, as well as directly to students through Textbooks.com. It also offers First Day and First Day Complete access programs; BNC OER+, a turnkey solution for colleges and universities, that offers digital content, such as videos, activities, and auto-graded practice assessments; and general merchandise, including collegiate and athletic apparel, school spirit products, lifestyle products, technology products, supplies, graduation products, and convenience items. In addition, the company sources, sells, and distributes new and used textbooks; and sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to approximately 350 college bookstores. Further, it offers direct-to-student subscription-based writing services; and bartleby, a direct-to-student subscription-based offering that includes textbook solutions, expert questions and answers, and writing and tutoring services. The company operates 805 physical college and university bookstores; 622 virtual bookstores; 8 True Spirit e-commerce websites; pop-up retail locations; 73 customized cafés and 11 stand-alone convenience stores; and a media channel for brands targeting the college demographic. Barnes & Noble Education, Inc. was founded in 1965 and is headquartered in Basking Ridge, New Jersey.

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. On August 3, 2015, Barnes & Noble Education, Inc. began trading on the New York Stock Exchange under the ticker symbol, "BNED". The company operates stores dedicated to selling college textbooks, both on and off campus.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.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.By December 2018, Barnes & Noble Education had operated or managed 773 campus bookstores under contracts.In July 2019, Barnes & Noble Education 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." 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.In August 2017, Barnes & Noble Education acquired Student Brands for $58.5 million. This acquisition includes Bartleby.com providing a Q&A service similar to that of Chegg facilitating contract cheating.

In August 2018, Barnes & Noble Education acquired PaperRater, a service that helps students write papers and identify plagiarism.

Mission

Our mission is to provide an immersive, connected learning experience that engages students and empowers educational institutions. We strive to create sustainable growth for our partners and engage in strategic partnerships and innovative technology to identify meaningful solutions that add value for our customers.

Vision

Our vision is to become a driving force in the development of innovative educational experiences that empower our partners’ academic and institutional missions, create sustainable value, and exceed our customers’ growing and changing needs.

Key Team

Mr. Jonathan Shar (Exec. VP of Retail and Pres of Barnes & Noble College)

Ms. Seema C. Paul (Sr. VP & Chief Accounting Officer)

Mr. Stephen Culver (Sr. VP & Chief Information Officer)

Ms. Carolyn J. Brown (Sr. VP & Chief Communications Officer)

Mr. Hunter Blankenbaker (VP of Investor Relations)

Ms. Suzanne E. Andrews (Chief Compliance Officer, VP and Gen. Counsel of Barnes & Noble College)

Ms. Maureen Paradine (Sr. VP & Chief HR Officer)

Recognition and Awards

Barnes & Noble Education has received numerous awards and honors, including being named among the 2020 Fortune 500 companies, the 2019 Corporate Philanthropy Award from the Association of Educational Publishers, the 2019 Most Innovative Company Award from the Association of Music Merchants, and being ranked in the top 10 in the Barron's 400 index every year since 2017.