You're right, they are too expensive but I still had to make sure my son was representing....How was the cantaloupe?
Sorry, I can't justify buying a shirt for my son when he's going to roll around the ground in it, drool on it, and spill food on it.
Powerbait is your son!?
Article in WSJ about B&N buying up college bookstores
That’s a Climalite shirt, not Climacool. The Climacools are usually 100% polyester, very light weight and thinner. The Climalites are usually at least 50% cotton and much thicker. Normally there’s a $15-$25 difference in the two, so $50 for the Charlotte Climacool sounds about right.
I’m a big fan of the 10-12 Climacools I own. I’d have to see the Charlotte one, but it sounds like I’ll be adding another one to my collection.
[QUOTE=bleedsgreenandgold;423659]Article in WSJ about B&N buying up college bookstores
Can someone with a WSJ subscription re-post the article here?
Barnes & Noble Inc. is buying its college-bookstore sibling from chairman Leonard Riggio, a move designed to add customers and bolster revenue as consumer-book sales flag.
Mr. Riggio, who is also Barnes & Noble’s founder and largest single shareholder, will sell Barnes & Noble College Booksellers Inc. to the nation’s largest bookstore chain for $596 million. The two companies have operated independently since Barnes & Noble Inc. went public in 1993.
“What this does is bring into our fold a business that is less subject to economic cycles,” said Joseph Lombardi, chief financial officer of Barnes & Noble, which operates 777 bookstores across the U.S. and posted revenue of $5.12 billion for the fiscal year ended Jan. 31. “Combining the two businesses makes Barnes & Noble less risky while adding good cash flow and a business with different fundamentals.”
Barnes & Noble College Booksellers operates 624 bookstores on campuses across the U.S. and had revenue of $1.8 billion in its latest fiscal year, ended May 2. It has a firm foothold in used textbooks, which account for about 20% of its annual revenue.
It hasn’t proved immune to the recession. Its same-store sales – sales at stores open at least a year – grew 1% in its latest fiscal year, slowing from 4.5% in the prior year. But that is still a growth business for Barnes & Noble Inc., which forecast a decline in same-store sales of 3% to 5% for the full year.
The textbook company is expected to have $136 million in cash on hand when the deal closes Oct. 1, giving the transaction a value of $460 million, a tidy sum for Mr. Riggio, who will help finance the purchase.
The purchase completes an arc in the career of Mr. Riggio, 68 years old, who holds 32.1% of Barnes & Noble’s common shares outstanding. He started out in 1965 in New York by catering to college students with a company called the Student Book Exchange. By the early 1970s, he was operating seven college bookstores.
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Retail stocks dropped Monday, led by Best Buy Co., after the largest U.S. electronics retailer was downgraded to neutral by Goldman Sachs. Barnes & Noble shares surged after it agreed to buy privately held Barnes & Noble College Booksellers for about $600 million. MarketWatch’s Andria Cheng reports.
Mr. Riggio emerged as a major consumer book retailer in 1986 when he acquired the B. Dalton Bookseller chain. Later, when he took Barnes & Noble public, he retained the college bookstore business as a privately owned company.
Irene R. Miller, who chaired a special committee created by the Barnes & Noble board to review the transaction, said in an interview that only the six independent directors voted on the purchase.
Mr. Riggio, his younger brother Steve, who is CEO of Barnes & Noble, and Lawrence S. Zilavy, senior vice president of Barnes & Noble College Booksellers, abstained from voting.
Mr. Riggio has sold privately held businesses to Barnes & Noble in the past. For example, in 1999 he sold the predecessor to video game retailer GameStop Corp. for $215 million. Barnes & Noble subsequently spun off the company to shareholders in 2004; today those shares are worth $2.6 billion.
Barnes & Noble College Booksellers competes directly with such companies as closely held Follett Corp., which operates 860 college bookstores across the U.S. and Canada, and Nebraska Book Co., which operates approximately 277 college bookstores. On the digital front, CourseSmart LLC, a joint venture of six higher-education publishers founded in 2007, now offers students subscriptions to more than 7,000 e-textbooks, while such Web sites as Chegg.com and BookRenter.com let students rent college textbooks.
There is also a brisk business on the Web in used textbooks.
“With the growth of the Internet we’re all experiencing increased competition,” said Elio DiStaola, director of public and campus relations for Follett’s higher education group.
Barnes & Noble believes the acquisition, aside from increasing cash flow, will help it tap the still small but dynamic market for electronic textbooks. Electronic textbook distribution for college students is expected to hit $117.5 million in sales this year, up 10.3%, according to Albert N. Greco, a professor at the Fordham Graduate School of Business Administration who studies the book industry. He estimates the printed college textbook market this year at $5.02 billion, up 3.5%.
This is the third strategic move Barnes & Noble has made this year. In March, it acquired Fictionwise, a leading retailer of electronic books, for $15.7 million. Last month, it launched a new online bookstore with more than 700,000 titles.
Mr. Lombardi said that colleges and universities are actively looking to develop strategies for delivering digital textbooks and that Barnes & Noble expects to use its newly launched e-bookstore to help meet that demand. “We’ll be able to sell students whatever books they want, in whatever formats they want,” he said.
Three banks have agreed to provide a $1 billion, four-year revolving credit facility for Barnes & Noble and the college book company. Barnes & Noble is tapping that facility for $275 million to help pay for the purchase, with Mr. Riggio providing $250 million in seller financing. The $275 million includes deal fees and seasonal borrowings under an existing Barnes & Noble facility.
I am not one to hate on corporate america usually…but I will not be giving any of my money to Barnes and Noble. They see $$$ (dollar signs) when it comes to college students because we already don’t have a choice with textbooks and in Charlotte’s case we don’t really have sources for memorabilia besides the school bookstore (except 49erfanatics.com).
So order your books online and buy your gear from our fellow niners. I just bought a shirt and a car magnet to sport down here in Hilton Head and came out for 27 bucks including shipping. The T-shirt alone would cost that or more in a Barnes and Noble store.
yeah, definitely just cut my book costs by more than half by buying from half, ebay, and amazon.
I’m going back to school in the fall and I’m checking out pricing on books. The bookstore on campus wants $203 for a brand new Accounting Info Systems book. BN.com has it for $169.00…fair pricing my a$$.
My son at UNCG buys almost every book off half.com or in a local bookstore. I think he has purchased one book on campus the entire time.
lost my new bookstore virginity today, looks awesome, it feels so open, and less like a bombshelter(upstairs at least, didn’t got downstairs). Being surrounded by all that Charlotte gears is damn close to heavenly. And I’m in the mural!
lol. We complain and moan because we don’t have cool merchandise and then we complain and moan when we finally get cool merchandise due to the costs. Maybe it’s the economy or maybe it’s just being a Niner fan.
lol. We complain and moan because we don't have cool merchandise and then we complain and moan when we finally get cool merchandise due to the costs. Maybe it's the economy [B]or maybe it's just being a Niner fan.[/B]
ding ding ding
lol. We complain and moan because we don't have cool merchandise and then we complain and moan when we finally get cool merchandise due to the costs. Maybe it's the economy or maybe it's just being a Niner fan.
I honestly didn’t think there was anything that spectacular in there. Sadly, there was a good selection compared to the **** they used to put in Prospector a few years ago. They still have a bit to go, need more diversification with products (they’re getting there). The prices have always been ridiculous, its just now its easier to bite the bullet buy something instead of how you never would have before.
[QUOTE=VA49er;423767]lol. We complain and moan because we don’t have cool merchandise and then we complain and moan when we finally get cool merchandise due to the costs. Maybe it’s the economy or maybe it’s just being a Niner fan.[/QUOTE]
In the past, we’ve complained about the cost [B]and[/B] the selection at the bookstore. Just look back at the many pages of this thread. The selection has suddenly improved, but the cost hasn’t and will not improve with Burns and Trouble running it.
[QUOTE=X-49er;423784]In the past, we’ve complained about the cost [B]and[/B] the selection at the bookstore. Just look back at the many pages of this thread. The selection has suddenly improved, but the cost hasn’t and will not improve with Burns and Trouble running it.[/QUOTE]
Just saying we like to complain. Be it about the price of a Niner shirt or the price of Niner football.
[QUOTE=VA49er;423803]Just saying we like to complain. Be it about the price of a Niner shirt or the price of Niner football.[/QUOTE]
That’s because they’re both overly expensive. :shades:
Just saying we like to complain. Be it about the price of a Niner shirt or the price of Niner football or the O omitting a major Niner win from the paper.Fixed :shades:
I guess there’s a reason for the “whiner” nickname. :unhappy: