Barnes & Noble plans to reduce outlets over the decade - WSJ

Mon Jan 28, 2013 12:57pm IST

A woman looks in from a window panel of a Barnes and Noble store in New York October 24, 2012. REUTERS/Brendan McDermid/Files

A woman looks in from a window panel of a Barnes and Noble store in New York October 24, 2012.

Credit: Reuters/Brendan McDermid/Files

Related Topics

Stocks

   

REUTERS - Barnes & Noble Inc (BKS.N) expects to shut down as many as a third of its retail stores over the next decade, Mitchell Klipper, chief executive of the company's retail group, told the Wall Street Journal in an interview.

"In 10 years we'll have 450 to 500 stores," Klipper told the Journal. The company had 689 retail stores as of January 23, along with a separate chain of 674 college stores.

Even with 450 to 500 stores, "it's a good business model," Klipper told the WSJ. (link.reuters.com/gun55t)

"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 said.

Barnes & Noble, which had enjoyed a sales bump after one-time rival Borders Group liquidated in 2011, reported a 10.9 percent decrease in sales at its bookstores and on its website over the holiday period.

(Reporting by Sakthi Prasad in Bangalore; Editing by Matt Driskill)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Tech Buzz

Reuters Showcase

New iPhone?

New iPhone?

Apple invites media to Sept. 9 event; new iPhones anticipated.  Full Article 

Tracking Heartbeat

Tracking Heartbeat

U.S. startups get OK for smartphone-based heart tracking.  Full Article 

Hi-Tech Watch

Hi-Tech Watch

Samsung unveils smartwatch that can make calls.  Full Article 

Bitcoin Usage

Bitcoin Usage

Bitcoin shows staying power as online merchants chase digital sparkle  Full Article 

Snapdeal Investment

Snapdeal Investment

Ratan Tata invests in online retailer Snapdeal  Full Article 

Patent War

Patent War

U.S. judge rejects Apple bid for injunction against Samsung.  Full Article 

Open Data

Open Data

In democracy and disaster, emerging world embraces 'open data'.  Full Article 

Pioneer Science

Pioneer Science

Whole organ 'grown' inside animal for the first time.  Video 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage