Explaining a company's turnaround strategy from @douggrindstaff
The creator explains the successful turnaround strategy of Barnes & Noble. He details how a hedge fund acquired the company, appointed a new CEO who decentralized book curation, and then capitalized on the 'retail apocalypse' by moving into vacant, low-cost real estate in dead malls, leading to significant growth and a potential IPO.
Creator: @douggrindstaff on Instagram
Transcript
Barnes and Noble just found out how to win retail, and it has nothing to do with books. Here's what happened. A hedge fund bought the whole thing for $683,000,000 in 2019, handed it to a British guy who runs bookstores in London and told him to fix it. He had just one rule, no more corporate telling tier what to sell. Every location now curates its own shell or its own neighborhood. And that part worked because they're now sitting at 3,000,000,000 in sales and 400,000,000 in profit. But that's n
Topics: Business Strategy, Retail, Economics
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