Latest news with #Follett
Yahoo
5 days ago
- Business
- Yahoo
Hopkins replaces Barnes & Noble as bookstore operator
The Johns Hopkins University is replacing its campus bookstore operations from Barnes & Noble Education to Follett Higher Education Group of Westchester, Illinois, this month, according to the university's communications office. Barnes & Noble Education has managed and operated the university's bookstore since 2006, when the store relocated from a campus academic building to its current location at the corner of St. Paul and 33rd streets. Barnes & Noble Education became independent from Barnes & Noble in 2015, a company spokesperson said. The new operator, Follett, is partnered with more than 1,000 college campuses in North America to provide merchandising, distribute course materials and operate campus stores, according to its site. Hopkins is one of 100 universities to either partner with or renew their contract with Follett this year. Others include Howard University, the University of Chicago and Dartmouth University Athletics. Follett is excited to support Hopkins by 'delivering a campus store experience that matches its purpose-driven spirit and world-class standard,' the company's chief marketing officer, Leann Fowler, said in a statement. According to Hopkins, Follett was chosen after a lengthy review process that included feedback from university officials, more than 2,000 students and more than 500 faculty members. 'Throughout the selection process, Follett demonstrated a profound understanding of higher education and the bookstore industry while balancing innovation and enhancing service to university faculty, students and community members,' Matt Moss — Hopkins' assistant vice provost for dining and auxiliary services — said to The Hub, the university's communications outlet. Follett also prioritizes sustainability and local procurement, which are values that align with Hopkins' long-term strategic plan, Moss told The Hub. Through Follett's management, the store will offer more merchandise and apparel options, and customers will be able to order customizable Hopkins-branded products through Follett's site, Hopkins said. According to Hopkins, the store will continue its community events, including book signings, art exhibitions and live musical performances. The university attributed the stores' success to these events, which have popularized it with both the Hopkins and greater Baltimore community. The store will undergo its transition to Follett this month. As a result, course material purchases will be made online with an option for either delivery or store pickup, according to the university. A more comprehensive store renovation is planned for next summer. Have a news tip? Contact Irit Skulnik at iskulnik@ or on X as @irit_skulnik
CBC
20-03-2025
- Health
- CBC
Looking for a psychological assessment in N.L.? Be prepared to wait
Karleena Squires had to wait three years or spend nearly $3,000 to get an assessment for attention-deficit hyperactivity disorder (ADHD). Squires, who was 32 at the time of her diagnosis, chose to spend the money. "I decided that if I was going to wait a long time, it would probably be best to go private," she told CBC News. There is a growing demand for autism spectrum disorder referrals and ADHD psychodiagnostic assessments, according to Newfoundland and Labrador Health Services. Wait times for psychological evaluations vary across the province. For adults, they can range from 18 months to five years. For children, wait times range between 12 to 27 months, depending on the type of assessment and location. Squires, who is now 35, says her diagnosis wasn't on her radar until her TikTok feed started to feel too personal. "I started seeing more and more videos of women around my age getting late diagnoses for ADHD, and they started explaining their symptoms. I felt like it was a checklist," Squires said. Those symptoms include choice paralysis, hyperfixations on topics or hobbies, forgetfulness, impulsivity and procrastination. "I grew up thinking ADHD was, you know, bouncing in your seat, unable to pay attention, but it's so much more than that," Squires said. NLHS told CBC News that waitlists are only maintained in some parts of the province. Where waitlists do not apply, individuals are prioritized based on clinical need and resource availability of the province's registered psychologists and psychiatrists. Acting Health Minister John Haggie told CBC News he doesn't think the wait times for psychological evaluations provided by NLHS are accurate. "Until we get accurate data, I think it would be unwise to speculate too much," he said. "Quite frankly, our problem is we have a challenge recruiting and retaining psychologists within NLHS." But, not all mental health physicians diagnose adults with ADHD or autism. Kay Snow and Angie Follett both received autism diagnosis — or confirmation, as Follett describes it — as adults. Snow has been on the public waitlist for three years. Following the advice of her doctor, they received her autism diagnosis through the private system. "I'm just waiting to see how long it takes," Snow said. "He said to me, 'If you wait publicly, that's years and years, you'll never get in. You have to go private, especially if you think that you're going to lose your job.'" Follett received her diagnosis through a public research program conducted by a psychologist at Memorial University. Meanwhile, she says, her husband has been waitlisted for five years. "I got to be a guinea pig, but I got lucky. I didn't have to fork over a lot of money, and my process was nowhere near as difficult as what a lot of other people experience," Follett said. "I managed to get one, and my husband didn't." If her husband pursues a psychological evaluation privately, the couple will have to pay upwards of $3,200, she said. "I don't know where it's going to come from," Follett said. Follett wants the province to cover the expenses of private health-care if it has to rely on the private system. "Political will is going to be a really, really big thing to get this stuff moving, and I don't get the sense that the people who are currently in power really understand how desperate this is," she said. Haggie said NLHS has considered funding private providers to deal with backlogs and waitlists. He said it's been done with ophthalmologists and cataracts. "If we need to buy in expertise or skills to help with waitlists, we've done it before, and I'm perfectly prepared to have those discussions with psychologists and psychiatrists," he said.
Yahoo
18-03-2025
- Business
- Yahoo
Barnes & Noble Education, Inc. (BNED): A Bull Case Theory
We came across a bullish thesis on Barnes & Noble Education, Inc. (BNED) on Substack by Catapult Capital. In this article, we will summarize the bulls' thesis on BNED. Barnes & Noble Education, Inc. (BNED)'s share was trading at $9.73 as of March 17th. An aerial view of a well-stocked bookstore, with customers browsing inside. Barnes & Noble Education (BNED) is the independent university bookstore division of Barnes & Noble, spun off in 2015. Initially seen as a more stable business compared to mainstream retail, BNED operates 1,164 bookstores across the U.S., with 649 physical and 515 virtual locations. The company primarily sells branded merchandise and textbooks and has historically faced headwinds from e-commerce competition, digitalization, and piracy. The textbook retail market has shifted toward an oligopoly, with BNED controlling about 30%, its main competitor Follett also holding 30%, and the remaining share split between self-managed stores and smaller operators. Over time, self-managed bookstores have ceded share to BNED and Follett, consolidating the industry further. Despite expectations of resilience, BNED's performance post-IPO has been disastrous. Amazon and other e-commerce players have aggressively encroached on BNED's core textbook sales, while digitalization has enabled publishers to sell directly to students, bypassing bookstores. Rampant piracy has further eroded the market, impacting both BNED and textbook publishers. However, salvation has come in the form of "Equitable Access" (EA) programs, designed to address affordability concerns for lower-income students. These programs shift textbook purchasing to an opt-out model, bundling textbook fees with tuition and dramatically increasing sell-through rates—from roughly 35% under the old model to nearly 80% at campuses adopting EA. Universities benefit from higher textbook sales, students receive materials at a discount, and publishers see stronger profitability despite offering price reductions. This shift mirrors the transition of the music industry to subscription-based streaming, where higher volume offsets lower per-unit revenue. BNED launched its own EA programs—First Day (FD) and First Day Complete (FDC)—in 2021. The rollout has been highly successful, with 16.4% of its covered campuses now enrolled in FDC. While overall revenue has remained stable due to the cannibalization of traditional textbook sales and store closures, margins have surged, transforming BNED's financial outlook. The company has shifted from breakeven EBITDA in FY23 to posting 4.7% trailing-12-month EBITDA margins, a testament to the program's impact. At this point, the key question is not whether FDC will succeed, but how much market penetration BNED can achieve—20%, 30%, or even 70%? The company faced a major overhang in early 2024 when the Biden administration's Department of Education (DOE) launched an investigation into the opt-out nature of EA programs, questioning whether students were overpaying. At the same time, BNED was highly leveraged due to industry headwinds and failed acquisitions, with significant debt maturing in mid-2024. The DOE probe created uncertainty, making lenders hesitant to refinance. BNED was forced into a dilutive rights offering, sold a large stake at a discount to Immersion Corp (IMMR), and converted second-lien debt from Fanatics and VitalSource into equity. As a result, IMMR became the de facto controlling shareholder, with an initial 40% stake that has since been reduced to 32% through additional share issuances aimed at further deleveraging. In December 2024, the DOE investigation concluded without action, as universities defended the benefits of EA programs. With this regulatory risk resolved, BNED now finds itself at the early stages of an FDC rollout that is fundamentally reshaping its profitability. The leverage issue is in the past, the company is generating strong cash flow, and its competitive position is solid in an oligopolistic market. Valuation remains the key opportunity. Despite these fundamental improvements, BNED trades at just ~5x EV/EBITDA on trailing numbers. However, as FDC penetration continues rising, profitability is set to increase further. If we assign a modest 14x multiple on forward unlevered earnings, factoring in conservative EBITDA growth and normalized capex, the stock could be valued at $23.3. The current setup presents a compelling opportunity—BNED is a transformed business, in a resilient market, with its largest regulatory overhang resolved. As the market fully realizes the implications of BNED's shift to EA programs, the stock has significant upside potential. Barnes & Noble Education, Inc. (BNED) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held BNED at the end of the fourth quarter which was 6 in the previous quarter. While we acknowledge the risk and potential of BNED as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than BNED but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey.
Associated Press
13-03-2025
- Business
- Associated Press
Follett and Kortext Join Forces to Expand Access to Quality Digital Learning Materials for College Students Across North America
Kortext Enhances Digital Learning at Follett Campuses with Smarter Study Tools, Seamless Collaboration, and Industry-Leading Accessibility WESTCHESTER, Ill., March 13, 2025 /PRNewswire/ -- Follett Higher Education, North America's leading campus store operator serving more than 1,000 colleges and universities, today announced a new strategic partnership with Kortext, a global leader in digital learning innovation, to further enhance access to quality digital learning materials on college campuses. Follett will transition to Kortext as its ebook delivery platform for the fall 2025 term, offering students and faculty smarter study tools, built-in collaboration, a robust, growing library of over 20,000 OER materials available to every user, and industry-leading accessibility features. 'Kortext has built an impressive reputation as a global leader in learning innovation, and we're excited to integrate their cutting-edge technology into our campus stores and Access programs. This partnership strengthens our mission to make it as convenient and easy as possible for students to access the quality, cost-effective course materials they need to succeed,' said Ryan Petersen, President of Follett Higher Education. Continually innovating and serving millions of students worldwide, Kortext's best-in-class platform enhances student engagement and enables real-time collaboration with faculty and peers through shared annotations, study groups, and interactive notetaking. Advanced, AI-powered text-to-speech functionality delivers a natural reading experience, improving accessibility and comprehension. Kortext makes it easy for students to access their materials both online and offline through native apps and integrates seamlessly with existing campus systems, ensuring a smooth transition for campuses and a familiar onboarding experience for users. 'Kortext and Follett Higher Education have a shared commitment to improving the academic experience through innovative programs, and together we are making digital learning materials more accessible and effective to enable and enrich the higher education of tomorrow and help all learners fulfill their potential,' said James Gray, Chief Executive Officer at Kortext. A leader in data security and privacy practices, Kortext maintains industry-leading certifications, such as ISO 9001 and ISO 27001, within its data management business to protect student and campus data. These practices complement Follett's ongoing investments in technology and data security, underscoring the company's commitment to advancing access to education and safeguarding the integrity of the learning experience for students. To learn more about the new partnership, visit Follett Higher Education is a leading educational service provider and omnichannel retailer providing students, faculty and staff, parents, and fans the course materials, learning tools and retail services needed to successfully support the academic, athletic, and collegiate journey. Follett Higher Education supports over 6 million students through its 1,000+ physical and online collegiate retail stores across North America. Founded in 2013, Kortext is the leading student experience and engagement expert, pioneering digitally enhanced teaching and learning in the higher education community. We support institutions to boost student engagement and drive outcomes with our AI-powered, cutting-edge learning content discovery (representing over 8,000 publishers and 5m+ eBooks and educational videos) and study products, market-leading learner analytics, and streamlined workflows for higher education. For more information, please visit:
