Barnes & Noble, the largest book retailer in the United States, is set to expand its operations with the opening of approximately 60 new stores. This announcement comes from CEO James Daunt, who detailed the company’s strategic growth plans and potential market listing opportunities.
James Daunt, also the CEO of British bookseller Waterstones, shared plans to potentially initiate an initial public offering (IPO) in London or New York, highlighting future strategies beyond the expansion. Despite the IPO being a logical step, there are no current plans to list the chains, according to sources familiar with the matter.
Since being acquired by Elliott Investment Management for $683 million in 2019, Barnes & Noble has been under Daunt’s leadership, where he has overseen significant changes and growth. In 2024, the company opened 57 new stores across the U.S., and currently operates about 600 locations nationwide. Daunt’s previous experience includes launching the independent Daunt Books chain in London and revitalizing Waterstones amidst competition from Amazon.
The expansion is not limited to the U.S.; Daunt noted that 12 new stores were added in the UK as well. Looking ahead, he expects to meet or exceed this expansion pace in 2025.
Daunt emphasized strong holiday sales, noting that the Christmas period’s timing on a Wednesday allowed last-minute shoppers to buy gifts over the preceding weekend, leading to exceptional sales on both sides of the Atlantic.
As part of long-term strategies, Daunt aims to integrate Barnes & Noble’s and Waterstones’ IT and finance systems, streamlining operations across the two chains. This reflects a broader approach to efficiency and synchronization across the businesses.
The optimistic projections for the new year are underpinned by Daunt’s transformative leadership style, which has already yielded a ‘solid Christmas’ and promising post-holiday sales. His ability to navigate complex market dynamics by refining both retail and operational practices continues to position Barnes & Noble as a robust competitor in the bookselling industry.
The plans to open 60 new stores mark a significant phase in Barnes & Noble’s growth trajectory. Under James Daunt’s leadership, the company remains committed to expanding its market presence while considering strategic financial opportunities that may include an IPO in the future.
Source: Businessinsider
