Posted: January 29, 2013 in Uncategorized

A bookstore institution giving way, to the digital information age, business model.

93.1 WZAK

Earnings Barnes and Noble

Barnes & Noble’s top store executive Mitchell Klipper has told the Wall Street Journal (subscription required) that the company plans the closure of at least 20 stores a year for the next decade.

Since 2003, the company has shut an average of 15 stores a year – but it also opened more than 30 per year, according to the Journal. During the last fiscal year, however, the company closed 14 stores and didn’t open any. This year, a prominent Manhattan store has already shut its doors.

Without any new openings, that rate of closure would reduce the total number of Barnes & Noble’s stores by a third – it currently has 689 retail stores, and 674 college stores. Their first store opened in New York City in 1917, and since the closing of Borders in 2011, it is by far the nation’s largest book retailer chain.

Store revenue over…

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