Mall Operator Reveals: Amazon Plans To Open 400 Bookstores
After a brief test run, Amazon could open as many as 400 physical bookstores, CEO of huge mall REIT General Growth Properties Sandeep Mathrani reveals.
The e-commerce giant has dipped its toes into brick-and-mortar already, opening its first bookstore in Seattle last November. "Amazon Books" sells Kindles, as well as Amazon.com's best-selling and highest-rated books at a discount to other retailers.
"You’ve got Amazon opening brick-and-mortar bookstores and their goal is to open, as I understand, 300 to 400,” Mathrani said during an earnings call on Tuesday.
The expansion, which hasn't been confirmed by the e-commerce giant, would be a sharp blow to Amazon's main rival, Barnes & Noble. The bookseller, which operates 640 stores, has been struggling to compete with Amazon for years, putting out declining sales quarter after quarter. [WSJ]