01-06-2013, 02:17 PM | #121 | ||||
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The Nook business has no "equity."
The Nook project has never turned a profit. If it was spun off today, it'd have a handful of assets and massive debts. Quote:
B&N's current valuation -- its real valuation, also known as market cap -- is $800 million. It's been bouncing around the $1 billion mark since 2009. That's the Nook division and the stores. Quote:
The Nook business alone currently burns $50 million a quarter, and got worse instead of better in Q4. Quote:
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01-06-2013, 02:22 PM | #122 |
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Pearson bought 5% of Nook Media for $90 million the same week the bad news dropped. Unless they ask for their money back, that is the valuation the 5% share will carry on *their* books.
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01-06-2013, 02:47 PM | #123 | |||||
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It didn't hurt. Remember, people were buying Nooks as a cheap tablet from day 1.
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In addition, many suggestions -- e.g. fire senior management, go international -- would just make things worse. Much, much worse. Quote:
My guess is that the college store business will survive (for awhile, at least) and Microsoft will wind up with the Nook business, and integrate it into their mobile platform. Quote:
They're developing the Nook in-house. They're making a good product. Unlike the transition to online book sales, they recognized very early that ebooks would be huge, and have kept their focus. They stayed in when Sony got sidelined. They resolved their proxy fight. They had at least a year where neither Amazon nor Apple was unable to out-discount them on books. They got a huge shot in the arm from Microsoft, which probably bought them a few years. They've watched Amazon irritate customers (*cough* 1984) and publicly feud with the big publishers. They've seen Apple draw the wrath of the DOJ over agency pricing. It's not enough. Quote:
But ultimately, the problem here isn't a failure to execute. It's that the task itself almost certainly can't be done. In order to succeed, they have to cannibalize their own business, damage their brand by closing stores and/or selling goods that make no sense to sell in a bookstore, and incur massive losses in creating an ebook business. Meanwhile, their biggest competitor is actually a database company thinly disguised as an online store, which can sell whatever it wants to everyone on the planet. Its second biggest competitor sells at least $35 billion in hardware every quarter, and is happy to sell content as a loss leader. Borders couldn't do it; UK bookstores aren't having much luck; Blockbuster can't do it; music chains like Tower didn't even try. I salute their attempts to go down fighting, but yeah, I'm pretty sure they are roadkill. |
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01-06-2013, 02:49 PM | #124 | |
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Whatever their flaws, they aren't doing what you're talking about. |
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01-06-2013, 06:56 PM | #125 | |
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Probably still have the University Store at the student center. (Parking is bad.) A shame. I liked to browse through the out of date textbooks, and buy a dirt cheap one now and then, on interesting subjects. |
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01-07-2013, 08:21 AM | #126 | |
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01-07-2013, 11:01 AM | #127 |
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Portions of the Microsoft money are tied to them expanding the Nook line to more geographies.
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01-07-2013, 12:20 PM | #128 | |
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Something else they should have done, and still could do, is offer some incentive for buying things in the brick and mortar store, that would build up a discount for the Nook store. Maybe spend $100 in the store over time, get a free ebook. Make it part of the B&N membership program, and reduce the annual fee. Or make it so that if you spend above a certain threshold, you get a free renewal for the following year. |
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01-07-2013, 02:28 PM | #129 | |
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As to the inventory system being off, there are 1000s of items it has to keep track of. Once things are on the sales floor, it is easy for things to get misplaced. Items do get misshelved, browsed to other places, and >gasp< stolen. The sad thing in all of this is that the real corporate policy seems to be to give the stores alot of latitude, as long as they are making their sales projections and are under on hours. Everything else, including attitude and service, is up for negotiation. |
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01-08-2013, 12:10 PM | #130 |
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From what I read, in the UK Amazon's price-slashing tactics are powered by tax-evasion. Is it the same in the USA? And does B&N pay tax?
A quick google suggests that B&N do not evade tax like Amazon. For shame. Last edited by Rizla; 01-08-2013 at 12:12 PM. |
01-08-2013, 12:40 PM | #131 |
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From a purely economic point of view, corporate tax should be as low as possible, ideally 0%.
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01-08-2013, 12:54 PM | #132 |
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BN has brick and mortar stores/HQ in all the states. You have to have a brick and mortar store/HQ in the state to be required to collect state taxes. Amazon is limited in the number of places it has a brick and mortar presence and as such does not have to collect the sales tax. Individuals are suppose to report their internet purchases on the state tax form so they can pay those taxes.
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01-08-2013, 01:01 PM | #133 | |
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01-08-2013, 01:02 PM | #134 |
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01-08-2013, 01:37 PM | #135 |
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How is following the law, evading taxes? They are not required to collect those taxes unless they have a physical presence in that particular state. Or are you saying that they should pay the taxes even though they are not required to? I guess that means you do not take the deductions that you are allowed to when you file your taxes, right?
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