Today is Take Your Child to a Bookstore Day!

Today is Take Your Child to a Bookstore Day. GalleyCat reports that founded by novelist Jenny Milchman, the new tradition urges parents to pass along the joy of bookstore shopping to the next generation. What a great idea a great idea, right?

Here are more details about this day from Take Your Child to a Bookstore Day's website:

Take Your Child to a Bookstore Day began when my children were little and I was going to story time at bookstores nearly every week. Did all children know the pleasure of spending time in a bookstore? I wondered. Of being drawn into a magic world for a while, then being left to choose treasures on the shelf? I wanted to begin a holiday that would expose as many kids as possible to this joy.

But Take Your Child to a Bookstore Day quickly became bigger than one mother and her children. Bloggers and book lovers took it viral across the web, carried posters into bookstores, and welcomed me and my family to local bookstores when we traveled cross country last summer.

Now we are busily adding stores, helping support celebrations on the Day, and leading people to the wonderful places we have found. In the future, Take Your Child to a Bookstore may offer grants for children who can't visit a bookstore on their own, or perhaps there will be internships for kids who want one day to own a bookstore. Because the sky is the limit when there is a book!

I'm going to take my kid to Strand Bookstore, which is not just a great indie bookstore, but also partners with Eco-Libris to offer customers to plant a tree for every book they buy at Strand.

Which bookstore will you go to with your kid to? Have a look at the Day's Bookstores page to see a map of the almost 150 bookstores participating in Take Your Child to a Bookstore Day!

For more information visit Take Your Child to a Bookstore Day's website.

If you have a passion for books and reading, you may enjoy literature courses from accredited online colleges.

Photo credit: Take Your Child to a Bookstore Day's website

Enjoy this day,
Raz @ Eco-Libris

Eco-Libris: Promoting green reading!

Beetroot Books is collaborating now with Eco-Libris (our first store in the UK!)

We're happy to announce on a new bookstore that is collaborating with Eco-Libris - Beetroot Books, the first bookstore we're working with in the UK!

This unique online bookstore is joining Eco-Libris bookstores program and will offer the store's customers the opportunity to plant a tree for every book they buy there and receive our "One tree planted for this book" sticker with their new book!

Why buying books with Beetroot Books (besides the fact they're partnering with us)? Here are some convincing reasons that will also help you to get to know them better:

They specialize in titles that enable you to think, act, learn, challenge, enjoy. They’re a one stop shop for everything sustainable, alternative, green and active – for all ages. Also, every one of their books is hand-picked – if you need advice or recommendations about any of our books or subjects we’ll be willing, able and happy to help you.

They stock and promote titles from independent publishers and unpublished writers. They also donate £1 for every gardening book sold to disability charity and £1 for every children’s book sold to child literacy charity Springboard for Children. Last but not least, Beetroot Books is powered 100% by renewable energy.

Bottom line: Beetroot Books is different from corporate stores - While corporate stores care what they sell, Beetroot care on how they sell. they offer you the best prices but won’t exploit in order to do so.

You can visit them at http://www.beetrootbooks.com/

Yours,
Raz @ Eco-Libris

Eco-Libris: Promoting Sustainable Reading!

Is Books-A-Million going to follow Borders into bankruptcy?

Last month it was announced that Books-A-Million agreed to acquire lease interest in 14 of Borders stores for $934,209. Yet last week GalleyCat reported that Books-A-Million will close four outlets. Add to it 11 percent decrease in sales in the last quarter and you start wondering not only if Books-A-Million made the right decision buying Borders' stores, but also if they're actually able to stay in business or will follow Borders into bankruptcy.

I looked into it and found five signs that Books-A-Million, now the second-largest bookseller might be heading into trouble:

1. Sales are shrinking - Last month the company reported on its second quarter results:  

"Net sales for the 13-week period ended July 30, 2011 decreased 11.4% to $106.4 million from net sales of $120.0 million in the year-earlier period. Comparable store sales for the second quarter declined 12.9% compared with the 13-week period in the prior year. Net loss for the second quarter was $2.9 million, or $0.18 per diluted share, compared with net income of $1.9 million, or $0.12 per diluted share, in the year-earlier period.

For the 26-week period ended July 30, 2011, net sales decreased 11.2% to $210.4 million from net sales of $237.0 million in the year-earlier period. Comparable store sales declined 13.1% compared with the same period in the prior year." 

Why? Commenting on the results, Clyde B. Anderson, Chairman, President and Chief Executive Officer, said, "Results for the quarter reflect a continuation of the trends that have been affecting our business since the beginning of the year. A soft publishing lineup, the effect of e-book migration and the impact of Border's liquidation all contributed to the decline in comparable store sales. In this environment we have been focused on further developing the growth categories in our stores in preparation for the second half of the year while our balance sheet remains strong."

What are exactly the "growth categories" they focus on further developing? It's not clear. Somehow I find this explanation as well as action plan not very reassuring to say the least.

2. Cash reserves are down by almost 40% - Although CEO Anderson said "balance sheet remains strong", you see that cash is down by 38% compared to the end of January 2011. The company has now only 4.8 million in cash and almost 95% of its assets are in its inventory ($192.3 million out of total current assets of $203.7 million) - again, not very relaxing given the fast changes the book business is experiencing. 

3. The stock market does not believe in Books-A-Million - If you had $300 on January 1, 2011 and decided to invest $100 in Amazon, $100 in Barnes and Noble and $100 in Books--Million, your investments would generate you the following return as of yesterday:

	1/3/2011	9/9/2011	Return
Amazon	184.22	211.39	14.75%
B&N	15.42	11.38	-26.20%
Books-A-Million	5.86	2.6	-55.63%

The company in its latest annual report explains that "recent market volatility has exerted downward pressure on our stock price, which may make it more difficult for us to raise additional capital in the future."

4. No clear strategy for the brick and mortar stores - Books-A-Million presently operates 232 stores in 23 states and the District of Columbia. Just like with B&N it's not clear what's company's strategy to transform these stores back into an asset. The vast majority of the company's revenues come from bookstores and therefore lack of clear strategy is creating a risk and puts in question the company's ability to increase its sales.

5. No e-reader - Just like Borders, Books-A-Million didn't develop an e-reader of its own and sells B&N's Nook. It means the company is more limited in growing its digital sales and is very much depended on B&N and their success to keep developing the Nook. Bottom line: Books-A-Million does not have the same digital cushion B&N has.

I hope I'm wrong, but Books-A-Million seems to be vulnerable now. If they won't be able to find the right strategy for their brick and mortar business they can be very soon in the same position  Borders found itself not too long ago.

Yours,
Raz @ Eco-Libris

Eco-Libris: Plant trees for your books!

Why John Malone does not want to buy Barnes and Noble?

Bloomberg reported yesterday that "Liberty Media Corp., controlled by billionaire John Malone, invested $204 million in Barnes & Noble Inc. (BKS) after dropping its offer to acquire the largest U.S. bookstore chain"



So why did Malone decide not to buy B&N and purchase only 17 percent of the company's stock (at $17 a share)? Here are few possible answers:



1. He finally understood that B&N has become a risky business operating in a volatile environment.



2. He understands that B&N is still mostly a brick and mortar retailer and as such is very vulnerable to the changes in the book industry, from the rise of e-books to increasing competition from discount retailers such as Wal-Mart (Just a reminder: Comparable store sales at its consumer bookstores fell last quarter 2.9% amid a decline in trade books).



3. He knows that B&N has no winning strategy on how to transform its 700+ stores from a liability into an asset. Apparently he doesn't know it either.



4. He learned the lessons from Borders' bankruptcy and liquidation.



5. All replies are correct.

So why does Malone invest $200 million at B&N? I guess he believes this way he is limiting his risks this way and gives himself a ticket to the world of digital reading, tablets and other future gadgets that will take control of our life in the near future.



On Bloomberg, Bill Kavaler, a New York-based analyst at Oscar Gruss & Son Inc., is quoted saying:

“John Malone likes to buy low-cost calls on interesting potential and ideas and Barnes & Noble is interesting as the only national book chain that’s standing,” Kavaler said. “For $200 million, he’s got a shot at seeing what happens.”

Well, I am not sure if this $200 investment is a cheap bargain. We'll have to see about it. As of today, Friday's stock price of $9.98 results in a $80 million paper loss for Malone.

In any event, there's no doubt this is still a very risky investment - not only because of the stores, but also because on the digital side of the business B&N competes with companies that are more technological oriented and have deeper pockets, such as Amazon and Apple.

We hope Malone won't regret it. We'll keep updating you on it.

You can check our updates on Barnes and Noble Bankruptcy Index on our website.



You can also find more resources on the future of bookstores on our website at www.ecolibris.net/bookstores_future.asp

Yours,

Raz @ Eco-Libris



Eco-Libris: Plant a tree for every book you buy!

RIP Borders - The bookstore chain is closing its doors

Now it's official - Borders Group announced on Monday that it will close all of its stores and sell the company to a group of liquidators led by Hilco Merchant Resources. It means that almost 11,000 employees will lose their jobs and the chain's 400 remaining stores will close their doors by the end of September.

This is a very sad day to any book lover, no matter if you're a Borders customer or not. The fact is that this isn't just an isolated case, but an indicator to the change in the industry, where brick and mortar stores can't find an adequate reply to the online competition as well as to the growing demand for ebooks and are losing customers until they can no longer stay in business.

NPR report explained the problem:

"Indeed, outside a Borders bookstore in Arlington, Va., shoppers say they rarely buy books the old-fashioned way."I'll go to Borders to find a book, and then I'll to go to Amazon to buy it, generally," customer Jennifer Geier says. With so many people going online to buy books, Borders lost out. The last time it turned a profit was 2006. "

According to NPR the case of B&N is different, but we believe it's actually no different than Borders, at least in the sense that B&N hasn't find yet the way to transform its brick and mortar stores back into an asset. If they won't find the way to do it, they will be left with BN.com and the Nook, but without stores. They still have time to figure it out, but they need to remember their time is running.

Borders stores will begin closing as early as Friday. The New Yorker gives a good advice to spend your gift cards this week. (Please buy books, rather than calendars, lattes, or Moleskine notebooks.) It adds that liquidation will continue through the summer and is likely to be complete by September.

For more news and updates on Borders post bankruptcy visit our website at http://www.ecolibris.net/borders.asp.

You can also find more resources on the future of bookstores on our website at www.ecolibris.net/bookstores_future.asp

Yours,
Raz@Eco-Libris

Eco-Libris: Planting trees for your books