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Barnes & Noble plans to cut stores over the next decade

By WEEK Producer

Barnes & Noble plans to cut stores over the next decade

January 28, 2013 Updated Jan 28, 2013 at 1:18 PM CDT

NEW YORK CITY -- Less than two years after its rival, Borders, declared bankrupcy, representatives from Barnes and Noble, Inc. say they plan to close a third of their stores over the next decade, according to the Wall Street Journal.

"In 10 years, we'll have 450 to 500 stores," Mitchell Klipper, Chief Executive Officer of Barnes and Noble, told the Wall Street Journal. 

After Borders Group liquidated in 2011, Barnes and Noble saw an increase in sales.  However, the company reported a 10.9 percent decrease in sales over the holiday period.

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