Dive Summary:
- CEO of B&N's retail business, Mitchell Klipper, says that the store plans on closing about 20 stores a year for the next decade in an attempt to bring the total number of B&N stores to between 400 and 500.
- Klipper does not concede to the idea that e-books will replace printed books completely and maintains that 97% of B&N stores are still profitable.
- The company has opened 2 prototype stores in 2012 and plans to open more in 2013 to forecast industry changes and evolve appropriately.
From the article:
"...Where has Barnes & Noble's (B&N) market share gone? To Amazon.com, of course, again raising the question of what B&N can do to reverse its decline.
According to the CEO of B&N's retail business, Mitchell Klipper, one of the things the company can do to improve its position is to close underperforming stores..."
