Wednesday, February 14, 2018
Barnes and Noble layoffs show chain stores having trouble as well as independents, with competition from online industry
Barnes and Noble is reported to have implemented a large layoff of retail employees on Monday. February 12, 2018, after weaker than expected holiday sales. The slowdown over Christmas occurred despite the fact that as whole retail holiday sales did well over the holidays.
Barnes and Noble, the last standing large bookstore chain, has had to compete with Walmart and Amazon, which is preparing to open its own physical stores. Amazon is looking for other headquarters, which could be built in the DC area, while its Seattle presence may shrink.
CNBC has a typical story
Barnes and Noble is a public company. At one time it owned some interest in some self-publishing companies. But it could sell itself to a media company or take itself private.
The drop in sales has come at a time when interest in independent bookstores seems to increase, and where literacy drives and used book stores in small towns seem to do well.
A Barnes and Noble in Bethesda near the Landmark Theater has closed.