Barnes & Noble, the largest book store company in the U.S., recently disclosed that sales from Nov. 1, 2009 to Jan. 2, 2010 were down 5% to $1.1 billion. Same-store sales were off 5.1%. Barnes $ Noble is up against a rapid increase in book sales over the internet which is dominated by Amazon and includes large retailers such as Wal-Mart. The rise of the e-reader and e-books is also in the process of undermining “bricks-and-mortar” book buying traffic. BKS peer Borders recently closed 200 of its Waldenbooks outlets and fired 1,500 people. Barnes & Noble has 775 outlets and 636 college bookstore. BKS will have to push online sales, marketing of it Nook e-reader, and close at least 100 stores.
Simply put, in the near future all Barnes and Noble stores could be out of business… Along with Borders.