Legal News

Barnes & Noble Plans to Close 20 Stores Per Year Over Next Decade
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Mitchell Klipper, the top store executive at Barnes & Noble, told the Wall Street Journal that the company will close 20 stores per year for the next decade. Starting in 2003, the company has closed an average of 15 stores per year. During that time, the company also opened over 30 stores per year. In the previous fiscal year, the company shut 14 stores, but it did not open any new ones.

If the company does not open any new stores, the rate of closure will decrease the total number of stores by one-third. There are 689 retail stores and 647 college stores open right now. The company’s first store opened back in 1917 in New York City.

  
What
Where


Compared to the holiday season in 2011, the store revenue for the 2012 holiday season decreased by 11 percent. In 2012, the company made $317 million in earnings. That was enough revenue to offset losses from the Nook, which the company spends a lot of money on new technology and advertising.

Nielsen BookScan said that over the previous five years, print book sales dropped by 22 percent across the country. There are 442 leases up for renewal by April 30, 2016, which accounts for more than half of the Barnes & Noble stores.

“Why close them if they are making money?” Klipper said. The company told Publishers Weekly that it is “fully committed to the retail concept for the long term.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Tax Associate Attorney

USA-CA-Los Angeles

Los Angeles office of an AmLaw firm seeks mid-level tax associate attorney with 3-5 years of experie...

Apply Now

Real Estate/Transactional Attorney

USA-PA-Camp Hill

Camp Hill office of our client seeks real estate/transactional attorney with experience. The candida...

Apply Now

Corporate Attorney

USA-WY-Laramie

Laramie office of our client seeks corporate attorney with 2+ years of experience.

Apply Now

RELEVANT JOBS

Customer Service & Support

USA-VA-Lynchburg

Relevant Law, a new legal services company, is seeking a customer service agent to assist our Lynchb...

Apply now

Subrogation Attorney

USA-CA-Newport Beach

If you’re passionate about your work and possess a strong reputation within the California leg...

Apply now

Trial Lawyer

USA-CA-Torrance

We are looking for a highly intelligent, hard-working and motivated lawyer to join our firm in Torra...

Apply now

Litigation Immigration Attorney

USA-NY-Long Island City

Our legal team is seeking an Associate Attorney with excellent written and oral communication skills...

Apply now

SEARCH IN ARCHIVE

To Top