Barnes & Noble Inc. BKS +0.08% expects to close as many as a third of its retail stores over the next decade, the bookseller’s top store executive said, offering the most detailed picture yet of the company’s plans for the outlets.
“In 10 years we’ll have 450 to 500 stores,” said Mitchell Klipper, chief executive of Barnes & Noble’s retail group, in an interview last week. The company operated 689 retail stores as of Jan. 23, along with a separate chain of 674 college stores.
Mr. Klipper said his forecast assumes that the company will close about 20 stores a year over the period.
Read it all Wall Street Journal
Guest posted by Barbara Morgenroth