Barnes & Noble to Close 100s of Stores: Would You Miss Shelby Township's Store?
Barnes & Noble has announced it will continue downsizing its brick and mortar operations, closing around 20 stores a year for the next decade.
Facing tough online competition, Mitchell Klipper, CEO of Barnes & Noble’s retail group, told the Wall Street Journal Monday that the company plans to close at least 20 stores a year over the next 10 years.
The fate of the Shelby Township store remains unknown as the company has not released a list of stores slated to close.
In the past decade, the company has closed around 15 stores annually. But up until 2012, Barnes & Noble also opened more than 30 stores a year, according to The Huffington Post.
Last year, the bookseller closed 14 stores without opening any new locations.
One reason is thought to be a steady decline in book sales. Print book sales have decreased 22 percent over the past five years, according to Nielsen BookScan.
Where do you buy most of your reading material these days?