James Daunt, appointed CEO of Barnes & Noble in 2019 by Elliott Advisors, transformed the bookstore chain by drawing on his experience at Waterstones and Daunt Books in London. He eliminated co-op advertising practices that had standardized stores and granted local teams wide autonomy over inventory and displays. Elliott Advisors, which had acquired Barnes & Noble for $683 million after years of decline, is now considering an IPO that would value the company at $4 billion. The chain has reopened dozens of new locations, including 50 last year, after closing over 100 stores and going through six CEO changes in the 2010s. Industry revenues reached $14.6 billion in 2025, up 1.1% from 2024.
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