Barnes & Nobile (BKS) Using Alcohol For Its Comeback

Posted on

What better way to make a comeback, than with beer and wine. It will definitely get people’s attention.

Barnes & Noble Inc. has been in a slump but the company is planning to turn this around by adding restaurants that serve both beer and wine.

This week, the company appointed COO Jaime Carey to be the head of the newly created restaurant group.

Four new concept stores will open in Eastchester, New York; Edina, Minnesota; Folsom, California; and Loudon, Virginia.

“Jaime’s promotion underscores the importance of having a leader devoted to our new store concepts with a focus on an enhanced restaurant experience,” Chief Executive Officer Ron Boire said in a statement.

The news sent shares up 7.9 percent to $11.26. This year, shares are up 29%.

Disclaimer: We have no position in Barnes & Noble, Inc. (NYSE: BKS) and have not been compensated for this article.