B&N Store Closings Accelerate
Toward an End?
Published: 01/08/2013 01:22am
Barnes & Noble store closings picked up after Thanksgiving, with stores shutting down in major markets such as San Francisco, Philadelphia, Washington, DC, Seattle, Chicago, Austin, Manhattan, and two in Dallas, according to Dennis Johnson on Moby Lives. "What had been a slow shrinkage as leases ran out—a store here, a store there—turned into an avalanche after Thanksgiving," he wrote.
Johnson believes that B&N will exit the brick and mortar bookselling business, closing hundreds of stores in the process, leading to reduced sales at the remaining independent bookstores and digitally.
Barnes & Noble reported declining sales in the holiday season (see "Barnes & Noble Holidays Down").