Brian Grosso
Deep value

Liberty Media Sale Creates Decent Buying Opportunity In Barnes & Noble

Business Overview

Barnes & Noble (NYSE:BKS) began in 1873 when Charles Barnes opened a book-printing business outside of Chicago. 44 years later in 1917 his son William opened the first and flagship Barnes & Noble bookstore in New York City. In 1965, Leonard Riggio was a student at NYU and employee of the campus bookstore. He was disgruntled and thought he could do a better job selling books, so he created the Student Book Exchange in NYC. The store and a few that followed were extremely successful and in 1971, Riggio acquired the Barnes & Noble brand and flagship bookstore. Riggio has continued to lead the company and currently serves as Chairman, owning 19.93% of the company. The...

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