An offhand comment yesterday by the CEO of a real estate investment trust that owns and manages 120 shopping malls around the country, threw the book business into a frenzy and caused B&N's share price to drop. In a conference call with investors Sandeep Mathrani, CEO of General Growth Properties said, "You've got Amazon opening brick-and-mortar bookstores, and their goal is to open, as I understand, 300 to 400."
Today, industry newsletter Shelf Awareness adds a little clarity to the situation saying:
Shelf Awareness has heard from knowledgeable people in the industry that Amazon is likely considering opening more Amazon Books stores, but that it aims to open a dozen or so stores in the next year or two, not hundreds. Presumably they would be flagship stores that, like Amazon's Seattle store, showcase a range of Amazon electronic products, including the Kindle and Fire, as well as books.
Today, industry newsletter Shelf Awareness adds a little clarity to the situation saying:
Shelf Awareness has heard from knowledgeable people in the industry that Amazon is likely considering opening more Amazon Books stores, but that it aims to open a dozen or so stores in the next year or two, not hundreds. Presumably they would be flagship stores that, like Amazon's Seattle store, showcase a range of Amazon electronic products, including the Kindle and Fire, as well as books.