(KTVI) – Barnes & Noble plans to close 20 stores a year for the next decade, a new report says. It will close down a third of the remaining stores.
Since 2003, Barnes & Noble closed as many as 15 stores a year but opened as many as 30. Last year was the first year no new stores were opened.
Competitor bookstore Borders closed its doors in 2011 and Barnes & Noble has become, by far, the number one retailer in books.
The company made $317 billion in revenue last year despite heavy losses on the Nook tablets and an 11 percent decrease from last year’s holiday revenue.