Headlines

Barnes & Noble Investor Urges Sale

Activist investor urges company to consider a sale

Published

7 years ago

July 26, 2017

Barnes & Noble (New York) is being urged by one of its investors, Sandell Asset Management (New York), to consider selling the bookstore chain.

The recommendation comes after the retailer’s revenue for its most recent fiscal year dropped 6.5 percent, though earnings rose to $22 million. It expects same-store sales to drop for fiscal 2018.

Sandell is one of the company’s biggest investors and believes the company could attract a bid of more than $12 a share. (This is compared to the retailer’s shares that were going for $7.10 a piece as of Monday.) Consequently, Sandell has sent a letter to The Wall Street Journal, stating its desires.

The company has considered selling the business various times over the years, but those efforts have not panned out, reports Fox Business.

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