CEO of Barnes & Noble’s retail group Mitchell Klipper reiterates the company’s expectations for an orderly slimming of their bookstore base to the WSJ. BN forecasts that they will close about 20 stores a year for the forseeable future–meaning that “in 10 years we’ll have 450 to 500 stores,” Klipper said, compared to 689 stores right now. (They reached “peak superstores” in 2008, when the chain comprised 726 BN outlets.) One key to whether that strategy plays out as predicted is their lease portfolio, since bookstores are a real estate business as much as anything. BN has a very flexible […]
