Barnes & Noblesaw strong sales over Christmas and a good year overall, c.e.o. James Daunt told the American trade magazine Publishers Weekly (PW), as the chain prepares for a year of growth in 2024.
Daunt attributed the chain’s success in part to the supply chain holding up, especially over the festive season. He also said sales were driven by books including Rebecca Yarros’ Iron Flame (Piatkus/ Red Tower Books) and Fourth Wing (Piatkus/ Red Tower Books), Prince Harry’s Spare (Bantam/ Random House), James McBridge’s Heaven and Earth (Riverhead Books/ W&N) and David Grann’s The Wager (Simon & Schuster/ Simon & Schuster UK).
The chain also saw improvements in the performance of its cafe business and newsstands. However, gift sales were lower this year, as some of the space allocated to them is now reserved for books. The c.e.o. also told the publication that toy and game sales "trod water" during 2023.
As the company enters a period of "significant growth" in 2024, the Barnes & Noble c.e.o. aims to open 50 new stores, while also investing in IT and distribution. Daunt told PW that he has a positive outlook on the publishing calendar for the year ahead, highlighting upcoming titles by Maas and suggesting that political books might be in the spotlight because of the US presidential election.
The c.e.o. acknowledged the pressure of higher costs and said that employees at five of the chain’s stores have voted to join a union and negotiate new contracts with management.
During the final days of the Christmas rush, employees at the Barnes & Noble Manhattan Union Square store staged a two-hour walkout, citing concerns that the company allegedly negotiated in "bad faith" with the Retail, Wholesale and Department Store Union (RWDSU), which represents them. A statement by a Barnes & Noble spokesperson, reported in the labour publication Work-Bites,said that this was "not true" as the union had "presented significant economic demands on 29th November, and only one bargaining meeting has been held subsequently".
