24/7 Wall St. took a look at financial results from leading bricks and mortar retailers and predicts which chains might be facing significant store closings.
Barnes and Noble made their list, with a predicted need to push online sales, nook sales, and close upwards of 100 stores. On the heels of last year's shuttering of many Waldenbooks locations that would (if true) make for quite a reduction in retail footprint for the chains.
It's hard to argue with the analysis - they do face some challenges, which is no doubt why they are not only promoting nook, but trying to get nook owners to want to come into the store, whether or not they buy print books when they get there.
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Waldenbooks is part of the ailing Borders group I believe. Wonder how they got to those figures? Thumbsuck? Not easy to just close 100 stores willy nilly, especially as their main bricks-and-mortar competitor is on life support & will most likely expire this year.
ReplyDeleteThat's actually more in line with what I meant... oh for want of an "s" (now corrected). It now reads:
ReplyDeletemake for quite a reduction in retail footprint for the chains.
Yes you are right that the chainstores as a whole will shrink. Doubt that B&N will shrink much at all though, it will instead make up a larger portion of a shrinking industry. Of course I could have egg on my face when B&N declares chapter 11 next year...
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