Facing Growing Losses, Barnes & Noble Is ‘Going Small’
Barnes & Noble, the nation’s largest retail bookseller, just had a woeful quarter, reporting a $30 million loss—that’s $10 million more in red ink than the same period last year. In hopes to turn the ship around, the company plans to run smaller stores and refocus on book sales, CEO Demos Parneros told investors last Thursday.
“We want to have smaller stores that are more efficient,” Parneros said in an investor call. “We will continue to place a greater emphasis on books, while further narrowing our non-book assortment.”
To read the whole story, head over to the Observer.