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The bookstore at one college in Washington is set to receive a major upgrade. Olympic College in Bremerton, Washington announced it will be handing over operation duties of its bookstore to Barnes & Noble beginning in October. The bookstore will be run by Barnes & Noble College Booksellers LLC — related to Barnes & Noble Inc. — because President Marty Cavalluzzi believes the company will be able to operate the bookstore better while providing lower book costs to students.
“We are pleased to sign an agreement with Barnes & Noble College Booksellers that provides the same level of services our students expect from the college,” Cavalluzzi said, via the Kitsap Sun. “By partnering with Barnes & Noble Booksellers, we benefit from numerous incentives, programs and profit-sharing that only a company of this scale can offer.”
Through the deal, Barnes & Noble will provide $80,000 in upgrades to the bookstore — including furniture and equipment — while also spending $75,000 to replace cash registers and install a new system.
Current bookstore employees can apply to become employees of Barnes & Noble if they wish to keep their job.
The Kitsap Sun provided further details on the deal:
The contract, effective Oct. 30, includes a guaranteed payment of $350,000 to OC in the first year. Profit-sharing guarantees in years two through five are 12 percent of gross sales up to $3 million or 13 percent of gross sales over $3 million, according to a news release from the college.
Barnes & Noble College Booksellers LLC currently manages more than 780 campus bookstores across the country.
