The WSJ reproduced an in-house memo to Barnes & Noble employees sent last week bychairman Len Riggio: “Never in all of the years I’ve been in business have I seen a worse outlook for the economy. And never in all my years as a bookseller have I seen a retail climate as poor as the one we are in. Nothing even close.” He warns, “we are bracing for a terrible holiday season, and expect the trend to continue well into 2009, and perhaps beyond.” Riggio announces that “new store openings will be curtailed greatly, and discretionary expenditures will be cut […]
