GRAMBLING, La. (KTAL/KMSS) – Grambling State University announced a 5-year extension of its campus retail partnership with Barnes & Noble Booksellers on Feb. 27.
“As we continue to transform higher education in the state of Louisiana, our aim is to make sure the cost of textbooks and learning resources remains approachable for our talented students. The updates to our Barnes & Noble agreement reflect our dedication to holistic student success,” Grambling State President Rick Gallot said in a press release.
According to the release, the University’s targeted negotiations with Barnes and Noble that have resulted in improved affordability of textbooks for GSU students and financial return toward the University’s bookstore management budget have increased.
“Our partnership with Barnes and Noble signifies our mutual commitment to remaining a trusted resource for our students and innovator in the industry of collegiate retail,” said Martin Lemelle, Executive Vice President of Grambling State in the release.
The University says they engaged the Campus Bookstore Consulting and higher education’s Boston-based premier campus store consulting firm to support its negotiation efforts with Barnes and Noble.
University’s Director of Operations and Compliance, Casey Byrd says it’s imperative that we ensure students have access to the best resources at an affordable cost.
Students will benefit immediately from provisions of the contract which improve affordability including:
• a reduction of gross margin course materials to 25%;
• adjusted pricing for digital course materials and textbook rentals;
• and used textbook prices will not exceed 75% of new textbook selling prices.
According to the release, Barnes & Noble guarantees a percentage of sales back to the University in support of student programming as part of the deal.
In addition to a signing bonus, Barnes & Noble will contribute textbook scholarships, Grambling University Foundation Scholarship donations, apparel donations, and utility fee payments.
“It’s an exciting time to be in collegiate retailing with all of the changes in the industry. Barnes & Noble values our long-standing partnership with Grambling University,” said Kimberly Otte, Vice President, Stores at Barnes & Noble College in the release. “We look forward to introducing new initiatives, saving students money on their course materials and staying relevant in the students’ minds.”