Barnes & Noble CEO Mitchell Klipper told the Wall Street Journal in an interview that his company will have 450 to 500 retail locations in 10 years -- down from nearly 700 now. Still, he insisted "it's a good business model," despite competition from e-books and online retailers.
Following Chapter 11 bankruptcy, Borders now plans to liquidate its remaining stores. But there's a bright side to the big box bookseller's death: Its long and tragic tale provides plenty of fodder for investors. Use these lessons to ensure that your future investments have a happier ending.
Barnes & Noble had its best holiday season in over a decade with store sales up 9.7% over last year, and online sales soaring a whopping 67%.
The country's second-largest bookstore widened its third-quarter loss to nearly double that of a year ago. Even worse, the estimated value of its inventory has declined, making it harder for Borders to borrow money. Will the company find a way to transform itself?
Google opened its long-anticipated Internet book store Monday, putting itself in direct competition with Amazon.com. Buyers can read its 3 million e-Books on any Web device or reader -- except on Amazon's Kindle.
The bookseller had a "disappointing" quarter with comparable store sales down nearly 6%, but a deal with competitor Barnes & Noble to sell the Nook e-reader could help end the year on a more positive note.
The sale of Borders' Ann Arbor, Mich., headquarters for almost $18.4 million adds to persistent rumors of the company's imminent demise. But the truth has more to do with the real estate market than books sales.
