Every year, we examine each store coming up for lease renewal and review the level of profitability that the store can generate." Those reviews have become more positive. Klipper added that B&N's "real estate team has done a spectacular job of managing our lease exposure over the past several years. This is still a mature business, but it is connecting with its audience." Instead of closing its usual 20 stores, B&N plans to close only 13 of its 649 general stores this year. Still, as John Tinker, an analyst with Maxim Group, told the Wall Street Journal, " The turnaround continues. Yesterday, B&N stock fell 10.1%, to $22.36 a share, on six times the usual volume, because B&N's profit during the quarter, which increased 14.1%, didn't increase as much as Wall Street had expected. Klipper, CEO, Retail Group, said during a conference call with analysts yesterday ( via ) after the company released third quarter results. Barnes & Noble plans to close fewer stores than expected this fiscal year because of "improving sales trends and our increased confidence in the business," Mitchell S.
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