Barnes & Noble to Shut Down 200 Stores in Next Ten Years – This article will take you to the Wall Street Journal article (may need registration to view) where the CEO of Barnes & Noble’s retail group Mitchell Klipper declared their intent to downsize. I heard the screams of the faithful. I heard the cackle of glee from the doomsayers. But then read behind the numbers. No CEO can truly predict TEN years of plans like that. According to another source 60% of the leases on their 689 retail stores (they also operate a separate chain of 674 college stores) are coming up for renewal in the next couple years. This gives them tremendous flexibility in fixing their rental costs for the next decade.
For the past decade they have averaged closing 15 stores per yer. But until 2009 they countered by opening up to 30 a year. The article does not mention any plans for new openings which left a pallor on the statistics. When asked if the brick & mortar days are done Klipper said that was nonsense. Of those 689 stores only 20 were losing money (3%). Read the articles yourself and see if the prediction doom has any merit.
Is Barnes & Noble Doomed? – Ironic that the Wharton School of Finance published this article the week before the one from The Wall Street Journal above.
Why Do Writers Post Their Books on Amazon Before They are Ready? – Kimberly Hitchens answers a great question.
Blogging for Writers – Elizabeth Spann Craig explores the topic from a fresh perspective.
Eleanore Forder, the First Lady of Christian Writers Conferences Has Passed Away – My dear friend Eleanore has reached her heavenly award. Since 1992 I have done over 100 conferences with Reg and Eleanore. She was an incredibly gracious lady. Always there with a gentle spirit and a bright smile. Toiling in the background she helped countless people across the country feel welcome and cared for. She will be sorely missed.