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Barnes and Noble originated in 1873 when Charles Barnes opened a book-printing business in Wheaton, Illinois. The first true bookstore was set up by his son, William, in partnership with G. Clifford Noble, in 1917 in New York City. The original bookstore was at 31 West 15th St., and opened during World War I. In 1932, at the height of the Great Depression, the bookstore was moved to its current flagship location on 18th Street and Fifth Avenue.The business was purchased in 1971 by Leonard Riggio, who oversaw the growth of the business. In 1974, Barnes and Noble became the first bookstore to advertise on TV, and a year later, the company became the first bookseller in America to discount books, by selling New York Times best-selling titles at 40% off the publishers’ list price. During the 1970s and 1980s, Barnes and Noble opened smaller discount stores, which were eventually phased out in favor of larger stores.They also began to publish their own books to be sold to mail-order customers. These titles were primarily affordable reissues of out-of-print titles, and selling them through mail-order catalogs allowed Barnes and Noble to reach new customers nationwide.Barnes and Noble continued to expand throughout the 1980s, and in 1987 purchased the primarily shopping mall-based B. Dalton chain from Dayton Hudson. The last B. Dalton stores were slated to close in January 2009. The acquisition of 797 bookstores turned the company into a nationwide retailer, and is today the second-largest online bookseller in the United States. Barnes and Noble's critics claim that it has contributed to the decline of local and independent booksellers.In 2002, Leonard Riggio's brother Stephen Riggio was named CEO.  

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