Barnes & Noble exec plans more store closings
By The Associated Press
Published: Tuesday, Jan. 29, 2013, 12:01 a.m.
Barnes & Noble plans to continue to shrink its store base.
The head of Barnes & Noble's retail group, Mitchel Klipper, said in The Wall Street Journal that the company will have 450 to 500 stores in a decade. That's down from about 689.
Klipper said the chain plans to close about 20 stores a year over the period.
The largest traditional bookstore has been facing tough competition from online retailers and discounters that sell books and has been focusing on its Nook tablet, e-book reader and e-book business for growth.
Although Barnes & Noble has for the most part stopped opening new stores in the past several years, Keating said New York-based Barnes & Noble opened two new prototype stores in 2012 and plans to test other prototypes in 2013.
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