Barnes & Noble plans to close around 200 stores in the next 10 years
Books (www.calvin.edu)
Posted: 01/29/2013
NEW YORK - Barnes & Noble reportedly plans to continue to shrink its store base.
The head of Barnes & Noble's retail group, Mitchel Klipper, says in an interview published Monday in The Wall Street Journal that the company will have 450 to 500 stores in a decade. That's down from about 689 currently.
Klipper said the chain plans to close about 20 stores a year over the period.
Barnes & Noble is the largest traditional U.S. bookstore operator. But it has been facing tough competition from online retailers and discounters. It has been focusing on its Nook tablet and e-book business for growth.
A spokeswoman for Barnes & Noble said Klipper's remarks don't mark any change in its store closing plan.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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