From The Wall Street Journal:
After dipping its toes into brick-and-mortar retail last year by opening its first physical bookstore, Amazon.com Inc. could be diving into the deep end.
The Seattle company plans as many as 400 bookstores, Sandeep Mathrani, chief executive of large mall operator General Growth Properties Inc., said on an earnings call with analysts Tuesday.
“You’ve got Amazon opening brick-and-mortar bookstores and their goal is to open, as I understand, 300 to 400,” said Mr. Mathrani in response to a question about mall traffic.
That compares to the 640 stores Barnes & Noble Inc. operates and the 255 locations Books-A-Million Inc. said it had as of last summer. Both companies spent years building out their retail operations. In addition to its one bookstore, Amazon already has a presence in Westfield Corp. malls, where it has set up permanent kiosks selling devices, cases and branded apparel.
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Following the Amazon news, shares of Barnes & Noble Inc. slid 1.7% to $7.95 in after-hours trading.
Link to the rest at The Wall Street Journal (Link may expire) and thanks to Frank and others for the tip.