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Media Contact:
Mary Ellen Keating
Senior Vice President
Corporate Communications
Barnes & Noble, Inc.
(212) 633-3323
mkeating@bn.com

Investor Contacts:
Joseph J. Lombardi
Chief Financial Officer
Barnes & Noble, Inc.
(212) 633-3215
jlombardi@bn.com

Andy Milevoj
Director of Investor Relations
Barnes & Noble, Inc.
(212) 633-3489
amilevoj@bn.com

01/14/2009

Barnes & Noble Announces Elimination of Corporate Positions

New York, NY (January 14, 2009) — Barnes & Noble, Inc. (NYSE: BKS), the world's largest bookseller, today announced the elimination of close to 100 positions in its corporate headquarters.  The company said most of the job eliminations were due to the reduction in store openings and consolidation of functional areas within its retail and online operations. 

"Although our people, from top to bottom, did a terrific job in managing expenses and maximizing productivity," said Steve Riggio, chief executive officer of Barnes & Noble, Inc., "the current business climate and the downturn in retail sales mandate that we reduce corporate overhead costs as appropriate to our overall sales volume."

"It should be noted, this is the first time in the company's history we’ve had to do this," Mr. Riggio added.  "The business climate in which we are operating is unprecedented, and therefore, the reduction in expenses is inevitable."

Barnes & Noble has further announced that it is providing the affected employees with an enhanced severance plan, as well as offering healthcare benefits for the next 12 months.  In addition, the company will be providing outplacement counseling and transition seminars.  As a result, the company will record an after-tax charge of $2.5 million, or $0.04 per share, in the fourth quarter of fiscal 2008.



About Barnes & Noble, Inc.

Barnes & Noble, Inc. (NYSE: BKS), the world’s largest bookseller and a Fortune 500 company, operates 799 bookstores in 50 states. The company is the nation's top bookseller in quality, and for the fifth year in a row, the top bookseller brand, as determined by a combination of the brand's performance on familiarity, quality, and purchase intent, according to the EquiTrend® Brand Study by Harris Interactive®. Barnes & Noble conducts its online business through Barnes & Noble.com (www.bn.com), one of the Web's largest e-commerce sites.

General information on Barnes & Noble, Inc. can be obtained via the Internet by visiting the company’s corporate website: www.barnesandnobleinc.com.

SAFE HARBOR

This press release contains “forward-looking statements.”  Barnes & Noble is including this statement for the express purpose of availing itself of the protections of the safe harbor provided by the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements. These forward-looking statements are based on currently available information and represent the beliefs of the management of the company.  These statements are subject to risks and uncertainties that could cause actual results to differ materially.  These risks include, but are not limited to, general economic and market conditions, decreased consumer demand for the company’s products, possible disruptions in the company’s computer or telephone systems, possible risks associated with data privacy and information security, possible work stoppages or increases in labor costs, possible increases in shipping rates or interruptions in shipping service, effects of competition, possible disruptions or delays in the opening of new stores or the inability to obtain suitable sites for new stores, higher than anticipated store closing or relocation costs, higher interest rates, the performance of the company’s online and other initiatives, the performance and successful integration of acquired businesses, the success of the company’s strategic investments, unanticipated increases in merchandise or occupancy costs, unanticipated adverse litigation results or effects, the results or effects of any governmental review of the company’s stock option practices, product shortages, and other factors which may be outside of the company’s control.   Please refer to the company’s annual, quarterly and periodic reports on file with the SEC for a more detailed discussion of these and other risks that could cause results to differ materially.