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Barnes & Noble plans to reduce outlets over the decade - WSJ
January 28, 2013 / 5:33 AM / 5 years ago

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

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.

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

“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

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