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Recent Book Store Closings

This version was saved 8 years, 7 months ago View current version     Page history
Saved by Alisha Kramer
on February 13, 2014 at 5:42:57 pm
 

BACK

 

Let's start by saying that consumers enjoy print and ebooks.

 

Borders went bankrupt and liquidated in 2011

 

 

Barnes & Noble is now practically the only place in America where you can go to get your hands on an actual physical book before you buy it. Some people have to drive 30 to 40 miles to go to a book store. Yes, people can go to Target or Walmart but their selections are much less.

 

Every retailer that gets into trouble ultimately does so the same way: all those prime real-estate leases that were an asset in boom times become an expensive liability when the foot traffic falls off—and the operating costs don’t...Retail leases typically run for ten years.  That means that if the lease is up on a store which is only marginally profitable, you should think hard before renewing.

 

Barnes & Noble plans to close about twenty retail stores a year over the next ten years, the company’s retail CEO Marshall Klipper told the Wall Street Journal. Today, there are 689 Barnes & Noble stores nationwide, plus 674 college stores."

 

Don't count Barnes and Noble out entirely.  Their college bookstore business still seems to be strong, and they may be able to reimagine their way to a higher-value, more premium experience.  But doing so will almost certainly mean shrinking, down to a manageable number of premium outlets with a specialist staff.  Which means, alas, closing bookstores and getting rid of those expensive leases before they drag the company under.

 

"He said that fewer than 20 of the chain’s retail stores are unprofitable, and “we’re going to be around a long time”

 

 “It should be noted that in 2012, Barnes & Noble opened two new prototype stores and in 2013 plans to test several other prototypes, as well. Barnes & Noble has great real estate in prime locations and the company’s management is fully committed to the retail concept for the long term.”"

 

CITATIONS: McArdle, Megan. "Why Is Barnes and Noble Getting Out of the Bookstore Business?" The Daily Beast. Newsweek/Daily Beast, 6 Feb. 2013. Web. 13 Feb. 2014.

Owen, Laura H. "Barnes & Noble Will Close up to a Third of Its Stores over the next Decade — PaidContent." PaidContent. N.p., 28 Jan. 2013. Web. 13 Feb. 2014.

"Central PA." The Patriot-News. N.p., n.d. Web. 13 Feb. 2014.

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