Barnes & Noble Education may add to its story with digital takeovers
August 4, 2015 04:03 PM
(Bloomberg)—Barnes & Noble Education Inc., the college bookstore operator that was just spun off from the larger books and games retailer, will consider acquiring digital services to speed its growth.
Barnes & Noble Education Chairman Michael Huseby said in an interview with Bloomberg Television that takeovers give the retailer a chance to boost sales “a little faster than just organically.” When the company was still a unit within Barnes & Noble Inc., No. 47 in the Internet Retailer 2015 Top 500 Guide, it invested in Flashnotes, which lets students sell notes and study materials online. Huseby said the company also is committed to expanding Yuzu, its note-taking platform that works online and on e-reader devices.
Barnes & Noble Education’s stores already compete well against online rivals like Amazon.com Inc. (No. 1) and book-renter Chegg Inc. (No. 117), Huseby said Monday.
“We’re different than some of the online companies like Amazon and Chegg in that we have a very close relationship and a deep relationship with the universities we serve,” Huseby said.
Still, Barnes and Noble Education shares got off to a rocky start in the first day of trading Monday, declining 8.1% to close at $13.19. On Tuesday, shares closed at $12.94, down 1.9%.