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B&N to close one-third of its stores in next decade
The Wall Street Journal (via Huffington Post) is reporting that Barnes & Noble has said that it will close about 20 stores a year for the next decade – about one-third of its stores.
Since 2003, the company has shut an average of 15 stores a year – but it also opened more than 30 per year, according to the Journal. Last year, however, the company closed 14 stores and didn’t open any. This year, a prominent Manhattan store has already shut its doors.
Without any new openings, that rate of closure would reduce the total number of Barnes & Noble’s stores by a third – it currently has 689 retail stores, and 674 college stores. Their first store opened in New York City in 1917, and since the closing of Borders in 2011, it is by far the nation’s largest book retailer chain.