Barnes & Noble Cuts Staff after Weak Holiday Sales

Barnes and Noble Inc., the world’s largest bookseller, stated that the company is cutting off staff after a weak holiday shopping season.

Barnes & Noble will be cutting its staff due to the weak holiday season sale. 

The cuts came after the bookstore stated last month that its sales fell 6.4 percent during the crucial nine-week period last December, while the online sales went down 4.5 percent.

According to people, the news came abruptly to the employees who showed up on Monday at various Barnes & Noble stores just to be notified that they no longer have jobs. However, the bookseller did not give the number of jobs cut.

“(Barnes & Noble) has been reviewing all aspects of the business, including our labor model,” a spokesperson of the bookseller stated. “Given our sales decline this holiday, we're adjusting staffing so that it meets the needs of our existing business and our customers. As the business improves, we'll adjust accordingly.”

Barnes & Noble has faced pressure from both Wal-Mart and Amazon, which have managed to steal a larger share of the book market. Meanwhile, Wal-Mart is planning to make a massive push in selling e-readers and e-books on its website later this year. Amazon, on the other hand, is opening up more of its own bricks-and-mortar bookstores.

B&N Names New Chief Merchandising Officer

On Monday, Barnes and Noble announced Timothy Mantel as the new Chief Merchandising Officer of the company. Mantel will report to the Chief Executive Officer of Barnes & Noble, Demos Parneros.

As the new CMO, Mantel will be responsible for driving sales and profitability in all areas of merchandising within the company, including Books, Toys & Games, Newsstand and Music, and Entertainment.

Mantel was the previous CMO of GNC Corporation, where he led a $2.6 billion product portfolio and helped re-launch the company’s business model.

“We are thrilled that Tim will be taking on the important role of Chief Merchandising Officer for Barnes & Noble,” Parneros stated. “His deep knowledge of retail and proven track record are exactly what we need to invigorate our merchandising strategy and grow our business. He will be a great addition to our management team.”

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