Riggio Vows to Fight for B&N
Barnes & Noble founder Len Riggio, who returned as CEO in August following the sudden dismissal of Ron Boire, worked to assure shareholders, publishers and B&N employees that he is committed to growing the business during a Thursday conference call after the retailer’s release of disappointing results for the quarter ended July 30, 2016.
Riggio said B&N has lots of initiatives in the works to improve customer store traffic and improve sale “conversions” in the stores. He pointed to the planned introduction of four (or five) new concept stores set to open in the next few months. While he said B&N is confident the new stores, which will feature large cafes offering beer and wine, will bring in more customers, Riggio said if the stores don’t work it will be “back to the drawing board” to test other concepts. “We are not just going to close stores and go home. We are committed to this business,” he said.