In the wake of rumors that book retailer Barnes & Noble will be selling its Sterling publishing unit and the announcement that it is exploring strategic options for its Nook business, analysts say that this might be the beginning of the end for the No. 1 bricks-and-mortar book retailer in the U.S.
Read more at DigitalBookWorld.com: Beginning of the End for Barnes & Noble? | Digital Book World http://www.digitalbookworld.com/2012/beginning-of-the-end-for-barnes-noble/#ixzz1ietGnXyo
“Physical book sales are down and the largest national competitor [Borders] shut its door in 2011,” said Peter Wahlstrom, an analyst at Morningstar who covers Barnes & Noble. “If you look out five years and ask if there are going to be more bookstores or fewer bookstores, I think there will be fewer. Barnes & Noble is facing an uphill, structural industry headwind.”
Yesterday, it was widely reported that Barnes & Noble is seeking bidders for Sterling, the New York-based publishing house that it acquired in 2002 for $115 million. And today, the company announced that it would be pursuing “strategic exploratory work to separate the Nook business.”
Read more at DigitalBookWorld.com: Beginning of the End for Barnes & Noble? | Digital Book World http://www.digitalbookworld.com/2012/beginning-of-the-end-for-barnes-noble/#ixzz1ietGnXyo
Beginning of the End for Barnes & Noble? | Digital Book World
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