Barnes and Noble plans to close about 20 retail stores per year for the next ten years, bringing the total number of stores down from its current 689 to less than 500, according to The Wall Street Journal (quoting Barnes and Noble CEO Mitchell Klipper). The company is also opening fewer new stores. In this fiscal year, only two new stores opened.

Online discount book retailers such as Amazon.com and e-books are chipping away at the demand for bricks and mortar book retailers. Nevertheless, the company remains profitable with $317 million in earnings in FY 2012 (before interest taxes depreciation and amortization). According to Klipper, less than 20 Barnes and Noble stores (< 3%) are losing money.

Even though they will have a diminished presence, book stores are unlikely to become extinct because they are often a destination for consumers and because print books serve as a complement to e-books.
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Barnes & Noble will have 442 leases due for renewal by April 30, 2016, according to the article.

B&N Store Openings and Closing - Graph: The Wall Street Journal

Last Updated on February 4, 2013 by Ramin Seddiq