UConn has chosen Barnes & Noble as its next campus bookstore operator, according to the agenda for today’s scheduled board of trustees meeting.
University officials Tuesday will ask the board of trustees to enter into an agreement with Barnes & Noble to take over management of UConn’s Storrs campus bookstore from the University of Connecticut Cooperative Corp., also known as the UConn Co-op.
As part of the deal, Barnes & Noble has also made a $1 million commitment to establish a downtown Hartford bookstore, when UConn’s new center-city campus opens in 2017.
University President Susan Herbst previously said a relationship with a private operator represents new revenue to UConn – potentially millions annually – which the university has decided it will devote to student financial aid and student support.
Herbst noted Barnes & Noble, and the other finalist Follett, demonstrated strategies to provide lower-cost alternatives to students, as well as price-matching programs for academic materials.
UConn said not only will course materials not be more expensive than the UConn Co-op currently offers, they likely will be more affordable. Language will be included in the final contract that restricts the ability of the chosen company to increase the cost of academic materials.
The Co-op, according to UConn officials, was having financial challenges and there were doubts about its long-term business model.
As part of the agreement, Barnes & Noble will pay UConn a commission based on its sales volume – as high as 20 percent if the national bookstore operator has $25 million or more in sales.Â
