NEW YORK, N.Y. — Barnes & Noble, which has a store in Cortlandt Town Center, could close a third of its brick and mortar stores in the next 10 years, according to a Wall Street Journal interview with the bookstore's chief executive.
The chain expects to close about 20 stores per year, dropping its total number of physical locations from 689 to 450 to 500, CEO Mitchell Klipper told the Journal.
This is not a change in its rate of store closures, Barnes & Noble spokeswoman Mary Ellen Keating said in a statement.
"Of that number, some of the stores are unprofitable while others are relocations to better properties. The numbers reported today by the Wall Street Journal are consistent with analysts’ expectations," Keating said.
Barnes & Noble opened two prototype stores in 2012 and plans to test several other prototypes in 2013. Keating said, "The company’s management is fully committed to the retail concept for the long term.”
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