(AP Photo/Elise Amendola)
Not to get too business-y but news enough for the book lover – the
physical book lover, that is:
Barnes and Noble’s Mitchell Klipper tells
The Wall Street Journal it will be closing about a third of its stores over the next 10 years.
“In 10 years we’ll have 450 to 500 stores,” Klipper, CEO of the store’s retail group, told the paper.
Right now, the chain has 689 locations plus 674 college stores across the country.
The forecast would mean closing around 20 stores per year to “halt its physical expansion entirely,”
The Atlantic reports.
Klipper said the chain plans on being around for a long time but the “handful” of stores that are struggling will be phased out.
“You have to adjust your overhead, and get smart with smart systems. Is it what it used to be when you were opening 80 stores a year and dropping stores everywhere? Probably not. It's different. But every business evolves,” Klipper told WSJ.
Reports from the recent holiday shopping season show B&N experienced a 10 percent dip in retail sales. Nook sales didn't fare well either.
Doubtful that this is yet another sign the end of printed books is near. In fact, today's news may ultimately be to the benefit of smaller, local booksellers - favorites to those who relish the experience of browsing for books in more intimate settings, and then the cozying up to them if the shop makes room for it. Such places are treasures.
Read more about the Barnes and Noble news
here.
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