Barnes & Noble CEO James Dont has implemented a localized approach across the chain
James Dont, CEO of Barnes & Noble, who took the helm of the largest bookstore chain in the U.S. in 2019, has applied the principles of independent bookstores to the company’s operations. He delegated more authority to store employees so that each of them could independently curate the selection, design displays, and cater to the tastes of local customers, according to Fortune.
Before entering the book industry, Dont studied history at Pembroke College, University of Cambridge. He then worked as a purser on Carnival Cruise Lines ships, where he was responsible for administrative and financial matters, as well as passenger relations. In 1985, Daunt moved to New York, where he became an investment banker at JPMorgan, but later decided to change careers.
In 1990, he returned to the United Kingdom and opened the first Daunt Books store in London’s Marylebone neighborhood. To finance the business, Daunt raised 250,000 pounds through a British tax incentive program for small businesses, now known as the Enterprise Investment Scheme. Daunt Books eventually grew into a London-based chain known for its book selection, visitor-friendly spaces, and knowledgeable sales staff.
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In 2011, Daunt took the helm of the British bookseller Waterstones, which was then struggling due to competition from online retailers, particularly Amazon. He closed unprofitable stores and gave their managers more freedom in selecting books. Under his leadership, Waterstones posted its first profitable year since the 2008 recession.
Barnes & Noble came under the control of Elliott Advisors for $683 million in 2019, when the chain was suffering from falling sales, store closures, and competition from online retailers. Dont moved away from a single, centralized approach: now stores order books themselves, create their own displays, write staff recommendations, and restock their inventory based on local demand.
According to Fortune, the chain has 717 brick-and-mortar stores—nearly 100 more than in 2019—and plans to open new locations by the end of the year. There have also been rumors of a possible initial public offering (IPO) for Barnes & Noble, though it is unknown whether it will take place or when exactly. Dont fears that an IPO could impact the model of local store management.
