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Home > Fortune 500 Companies > Barnes & Noble
Barnes & Noble
Barnes & Noble is a publicly traded company having a good stock performance result. Barnes & Noble is a fortune 500 stock listed company trading under BKS.
Barnes & Noble's beginnings can be traced to 1873, when Charles M. Barnes started a book business from his home in Wheaton, Illinois. In 1974, Barnes & Noble was the first bookseller in America to advertise on television. Through the 1980s, Barnes & Noble experimented with different store formats and sizes seeking to develop a suburban superstore version of the original Barnes & Noble store.
Stephen R iggio is the chief executive officer and vice chairman of Barnes & Noble, Inc. Mr. Riggio was appointed chief executive officer of Barnes & Noble Inc. in February 2002. In January of 2003, Mr. Riggio expanded the company’s publishing operations with the acquisition of Sterling Publishers, one of the largest book publishers of reference books in the world.
Barnes & Noble Inc., isthe world’s largest bookseller, reported sales and earnings for the fourth quarter and the full year ended January 28, 2006. Sales for the full year increased to 5.1 billion dollars.
The full year results included after-tax costs of 6.6 million dollars, or 0.09 dollars per share, associated with the previously announced redundancy costs for the new distribution center. Due to strong operating results and management of working capital, the company generated record operating free cash flow of 362 million dollars for the year. By every single important financial metric, 2005 was a great year for the company. Strong expense controls and expanding gross margins drove record earnings. The company’s comparable stores sales grew 2.9 percent for the year without any advertising
expenditures or additional coupon promotions. The company expects to complete the conversion and incur all associated costs by the end of 2006.
The company’s mission is to operate the best specialty retail business in America, regardless of the product. Since the product is books, their aspirations are consistent with the promise and the ideals of the volumes which line their shelves.
Due to highly experienced people who are dedicated to customers’ success the company Barnes& Noble Inc., will sustain to their profitable growth.
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