Part of this is a result of the company’s push to be more than just a bookstore. Its retail sales last quarter were $1.4 billion, down 1.8 percent compared with the same period a year earlier. But sales of other goods like toys and games grew 12.5 percent. The increase was driven by interest in items like adult coloring books and vinyl records.
Paperbacks Are Gaining Ground on E-Books
The company’s results come at a time when bookstores may be making a comeback and e-books, which have been perceived as print killers, are losing popularity.
In the first 10 months of 2015, according to data gathered by the Association of American Publishers:
• E-book sales in the country fell 12.3 percent.
• Paperback book sales grew 12.4 percent.
The Bookstore Industry Rebounds
Over all, bookstore sales rose 2.5 percent last year, to $11.17 billion, from $10.89 billion in 2014, according to the Census Bureau. It is the first time that bookstore sales have grown since 2007.
Barnes & Noble, however, hasn’t uniformly benefited from this trend. It has had to close more than 10 percent of its stores in six years.
• In 2010, the chain had 720 retail stores nationwide;
• In 2016, it had 640 retail stores.
And although Barnes & Noble still plans to close about eight stores this fiscal year, that’s not such bad news: It’s the lowest number of store closings in 16 years.
The Mom-and-Pop Stores
Independent stores may be the beneficiaries of the drop in Barnes & Noble’s retail base. The decline, along with other trends like the resurgence of print and the “shop local” movement, has most likely contributed to a resurgence in independent bookstores. After decades of decline, the number of independent bookstores is on the rise, according to membership data gathered by the American Booksellers Association:
• In 2010, there were 1,410 independent bookstores in 1,660 locations;
• In 2015, there were 1,712 indie stores in 2,227 locations.