Barnes & Noble and the end of the mega-bookstore

The chain may close a third of its stores over the next 10 years

Barnes & Noble's Nook e-reader could only help the chain for so long.
(Image credit: Scott Olson/Getty Images)

Mitchell Klipper, the chief executive of Barnes & Noble's retail unit, told The Wall Street Journal this week that the company would close as many as a third of its brick-and-mortar stores over the next 10 years, the clearest evidence to date that the chain has struggled to remain relevant amidst the rise of online behemoth Amazon. Further deepening the gloom for the book industry, Barnes & Noble recently reported unexpectedly weak sales from the holiday season, with revenue dipping 11 percent from a year earlier.

Amazon has eaten into Barnes & Noble's profits in two ways: By selling physical books at a steep discount the bookstore can't match, and by cashing in on the skyrocketing popularity of e-books. Indeed, one of the only reasons B&N is still around, unlike its now-defunct competitor Borders, is that B&N had enough foresight to roll out the Nook e-reader to compete with Amazon's Kindle.

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Ryu Spaeth

Ryu Spaeth is deputy editor at TheWeek.com. Follow him on Twitter.