Page 4 - June 2021

who’s who in retail

MEETS

James Daunt

CEO OF BARNES & NOBLE AND WATERSTONES

Q. Given the current market conditions, have you had you cannot transform a company unless the people and staff
Q. Given the current market conditions, have you had you cannot transform a company unless the people and staff
to alter or re-evaluate your key objectives over the at that company believe in it, particularly if you are essentially a
to alter or re-evaluate your key objectives over the at that company believe in it, particularly if you are essentially a
coming 12 months? people business.
coming 12 months?
people business.
A. We have, firstly to try and survive in circumstances when
A. We have, firstly to try and survive in circumstances when
Q.

we have gone through stages where we had no idea how Q. What do you make of social media and its prominent
What do you make of social media and its prominent
idea
where
we
no
stages
through
have
how
gone
had
we

the
to
concentrates
going
were
long we were going to be closed for, this concentrates the rise in importance over the last few years, and how
long
we
rise in importance over the last few years, and how
be
closed
for,
this
important do you feel e-commerce and online activities
mind somewhat. important do you feel e-commerce and online activities
mind somewhat.
will continue to be?
will continue to be?
Q. How would you say the Covid-19 outbreak has A. Social media is obviously hugely impactful and I think it can
Q. How would you say the Covid-19 outbreak has A. Social media is obviously hugely impactful and I think it can
be
positive,
within
of
the
certainly
it’s
books
massively
affected your business in the past year, and will it have be massively positive, certainly within the world of books it’s
affected your business in the past year, and will it have
world
any effect on your plans moving forward? a means to promote books and it can generate excitement in
any effect on your plans moving forward?
a means to promote books and it can generate excitement in
books.
allows
communicate
it
Well
whole
there
to
retail
two
important
as
us
for
been
a
have
online,
with
A. Well for retail as a whole there have been two important books. In terms of online, it allows us to communicate with our
A.
of
In
terms
our
changes. The first is online; this has grown both for competitors customers and has changed how we reach our consumers. In our
changes. The first is online; this has grown both for competitors customers and has changed how we reach our consumers. In our
to
means
two
this
shift
online.
and
physical
Number
and for us, this shift from physical to online. Number two is, allied case this means promoting books, communicating about books
allied
is,
communicating
from
case
promoting
us,
for
about
books
this
books,
to that but not only because of that; the physical retail landscape and reaching out to people on the basis of what they’re reading,
to that but not only because of that; the physical retail landscape and reaching out to people on the basis of what they’re reading,
is going through a change. A lot of companies will go out of but also running things like author events which used to be a
is going through a change. A lot of companies will go out of but also running things like author events which used to be a
physical experience and is now a virtual one online.
business and a lot will be closing stores.
business and a lot will be closing stores. physical experience and is now a virtual one online.
Q. What key leadership skills do you feel are the most Q. What would you consider to be the highlights in
Q. What key leadership skills do you feel are the most Q. What would you consider to be the highlights in
your career?
important in the current retail climate? y our car eer?
important in the current retail climate?
most
I’m
keeping
of
my
of
a
which
own
thing
from
the
are
proud
The
leadership
staff
A.
bookshops,
A.
A. Obviously from a leadership perspective, keeping the staff of A. The thing of which I’m most proud of are my own bookshops,
of
Obviously
perspective,
a retail company focused and understanding what is going on opening those up and for them to be successful and continue to
a retail company focused and understanding what is going on opening those up and for them to be successful and continue to
and understanding what the business imperatives are and how be successful some thirty years later is the thing of which I’m most
and understanding what the business imperatives are and how be successful some thirty years later is the thing of which I’m most
we are going to respond to them is important. I think from a proud. But also it’s been very nice to take over the stewardship
we are going to respond to them is important. I think from a proud. But also it’s been very nice to take over the stewardship
leadership perspective, how do you keep your staff engaged and of Waterstones when it was at a difficult moment in its history
leadership perspective, how do you keep your staff engaged and of Waterstones when it was at a difficult moment in its history
to
now
it
and
able
to
bring
you
have
then
they
when
what
furlough?
on
are
almost
motivated
motivated when they are on furlough? How do you then bring and to now have it able to get through what has been an almost
has
been
an
How
through
do
get
them back into store when you don’t know how long you are existential difficulty like the pandemic and to do so frankly with
them back into store when you don’t know how long you are existential difficulty like the pandemic and to do so frankly with
going to be reopen for? I think a lot of communication is required some ease has been particularly pleasing.
going to be reopen for? I think a lot of communication is required some ease has been particularly pleasing.
everybody
let
and
you
going
that’s
is
must
always
on,
know
what
and you must let everybody know what is going on, that’s always
important in leadership but particularly so now when things are Q. How are you feeling about the 12 months ahead?
How are you feeling about the 12 months ahead?
Q.

when
so
but
are
leadership
in
particularly
things
now
important
so difficult. A. I think we just have to take every week as it comes and every
so difficult.
A. I think we just have to take every week as it comes and every
month as it comes, we have to hope these vaccinations will see us
month as it comes, we have to hope these vaccinations will see us
be
to
Q. As a leader, when making key strategic decisions, return to some sort of normality and that appears to be possible
Q. As a leader, when making key strategic decisions,
sort
to
normality
and
that
appears
some
return
possible
of
have
generally
as
I’m
I
optimistic
past
been
now,
the
what proportion of the decision do you feel is fact- now, so generally I’m as optimistic as I have been in the past year.
what proportion of the decision do you feel is fact-
as
in
so
year.
based and what proportion is instinctual?
based and what proportion is instinctual?
in
rooted
are
of
culture
the
I
A.
A. I feel instinctual decisions are rooted in the culture of the Q. Do you have any words of warning for the industry
decisions
instinctual
feel
the
Do you have any words of warning for the industry
Q.

company, so that’s how I would interpret instinctual. I think a as we head into unchartered territory?
company, so that’s how I would interpret instinctual. I think a as we head into unchartered territory?
company like Waterstones has an extremely strong culture A. I think we need to continue to articulate our situation and
company like Waterstones has an extremely strong culture A. I think we need to continue to articulate our situation and
our
of
government
the
retailers,
particularly
and the majority of our decisions are rooted within culture. In encourage the government to support retailers, particularly
majority
and
decisions
within
encourage
to
In
the
culture.
are
support
rooted
addition to this, any retailer needs to understand how and why it physical retailers. We need a reform of the rates system which
addition to this, any retailer needs to understand how and why it physical retailers. We need a reform of the rates system which
is a substantial part of our fixed-cost base and a particularly
operates and that is predominantly based on fact. is a substantial part of our fixed-cost base and a particularly
operates and that is predominantly based on fact.
unhelpful, inflexible and inappropriate one and if we are to keep
unhelpful, inflexible and inappropriate one and if we are to keep
Q. Do you feel that a leader can be transformational shops open the government has to address that. I also think that
Q. Do you feel that a leader can be transformational shops open the government has to address that. I also think that
whilst remaining authentic, and how important do you as people who run retail businesses, we sort of feel we have a
whilst remaining authentic, and how important do you as people who run retail businesses, we sort of feel we have a
responsibility to keep as many of our shops open as we can and
feel this is?
feel this is? responsibility to keep as many of our shops open as we can and
that
important
it’s
authentic,
remain
leaders
A.
A. Well certainly it’s important that leaders remain authentic, as many people employed as we can.
Well
certainly
as many people employed as we can.
04 RETAIL & LEISURE INTERNATIONAL JUNE 2021