Yes, I do subscribe to InsideTrader.com - but i did not see any
new filings this week.
Here is an article from bloomberg:
Technology News
Tue, 16 Dec 1997, 4:06am EST
BN 12/15 Barnes & Noble Names Stephen Riggio Vice Chairman (Update2)
Barnes & Noble Names Stephen Riggio Vice Chairman (Update2)
(Updates with closing stock activity.)
New York, Dec. 15 (Bloomberg) -- Barnes & Noble Inc. named
Chief Operating Officer Stephen Riggio vice chairman, putting him
in charge of its Internet book-selling business.
Riggio's former position will be filled by J. Alan Kahn.
Kahn was previously chief executive of Barnes & Noble College
Bookstores Inc., a closely held affiliate that is majority-owned
by Chairman and Chief Executive Leonard Riggio, Stephen Riggio's
older brother.
The executive changes come as Barnes & Noble expands its
Internet site that offers books for as much as 40 percent off
list price. The New York-based company started the site in May to
challenge industry pioneer Amazon.com Inc. on the Web. Rival
retailer Borders Group Inc. will unveil its site next month.
''Riggio's the one behind their Internet effort,'' said
analyst Linda Farquhar of BT Alex. Brown Inc., who rates the
company's stock a ''buy.'' ''He's impressed people as becoming
very knowledgeable very quickly about that business.''
Because of high marketing costs, Barnes & Noble's Internet
site isn't expected to be profitable until fiscal 2000. Still,
the company has said it expects Web sales to soar to $100 million
to $125 million next year from an estimated $25 million to
$30 million this year.
''Barnes & Noble has increased their reach since May pretty
impressively. People are visiting the site,'' Farquhar said.
Riggio, 43, also will oversee Barnes & Noble's publishing,
mail order and distribution businesses, the company said.
Kahn, 50, will manage the retail operations, which include
484 Barnes & Noble bookstores and 555 B. Dalton bookstores.
Little is known about his performance at Barnes & Noble College
Bookstores, analysts said.
''Alan Kahn may be somewhat of an unfamiliar name to
people,'' said analyst William Armstrong of Fahnestock & Co.
|
