Inside the Australian and New Zealand book industry

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‘Elliott expects, at some point, to sell B&N for a lot more than they bought it for—they expect to make tons and tons of money. But they also know that they will only do that if we can make the business shinier, bigger, and better … The simple fact is that B&N needs money: people want to shop in places that look modern, clean, and inviting. The B&N stores look tired and need a little botox.’—Waterstones CEO James Daunt, who will take over as B&N CEO once the purchase by hedge fund Elliott Advisors is complete, says he wants to arrest the decline in sales and return B&N to growth.