It's holiday gift buying in full swing joining us right now with a view of the economy through his lens as a book seller. James D is here. He's a Barnes & Noble CEO. Good morning to you. Good morning. >> And I was just thanking you because I've been in a whole bunch of Barnes & Nobles over the past couple months as I've been uh selling my book. But how do you see the book business as an indicator of the economy these days and the sense of how many people are actually buying books these days? books thankfull ...

Core Insights - The retail industry faces significant challenges when competitors offer more convenient ways to access key products, as demonstrated by Amazon's impact on traditional bookstores [1][2] - Digital reading has become a preferred option for many consumers, leading to a decline in physical book sales and forcing bookstores to adapt their business models [2][3] - Video game retailers, particularly GameStop, have encountered similar challenges due to the rise of digital gaming and subscription services, which have diminished the demand for physical games [4][6] Company Analysis - GameStop has struggled to establish a sustainable business model, particularly during the COVID-19 pandemic, which forced many stores to close and intensified existing issues [5][6] - The company's near bankruptcy in 2020 was attributed to the decline in demand for physical games and consoles, compounded by the pandemic [6] - A surge in GameStop's stock price in early 2021, driven by retail investors on social media, allowed the company to avoid bankruptcy and provided cash reserves for a turnaround plan [6][7] - GameStop has initiated a significant number of store closures as part of its strategy to adapt to the changing market landscape [7]

Company Background - Barnes & Noble's origins date back to the 19th century, initiated by Charles M. Barnes in Illinois, later expanded to New York in 1917 with G. Clifford Noble [1] Investment Strategy - The investment approach focuses on identifying emerging and undervalued stocks, often contrary to conventional wisdom, emphasizing both value and growth [1] - The strategy is supported by fundamental analysis, highlighting overvalued stocks while seeking unique investment opportunities [1] Market Engagement - The company has a history of active trading and engagement in shareholder meetings, conferences, and sector exhibitions, indicating a strong presence in the market [1] - There is a particular interest in innovation across various sectors, reflecting a commitment to understanding market dynamics and consumer impact [1] Research Methodology - The research methodology includes assessing website and store traffic, eBay sales, and customer feedback to gauge company performance and consumer satisfaction [1] - The focus is on finding investments that offer growth, unique opportunities, and value to shareholders and customers alike [1]

Core Insights - Bragar Eagel & Squire, P.C. is investigating potential claims against Barnes & Noble Education, Inc. regarding possible violations of federal securities laws and unlawful business practices [1][3] Financial Disclosure - On July 18, 2025, Barnes & Noble announced a delay in its annual report for the fiscal year ending May 3, 2025, due to an ongoing investigation into the recording of digital sales costs [3] - Preliminary findings suggest that Barnes & Noble may have overstated accounts receivable by up to $23 million and expects to report at least one material weakness related to manual journal entries [3] Market Reaction - Following the announcement of the investigation, Barnes & Noble's stock price dropped by $2.36 per share, or 21.02%, closing at $8.87 per share on July 21, 2025 [4]