MAIN NEWS HEADLINES
April 9 – April 16, 2009 Edition Big ThreeBookstore Chains
Report Steep Declines
NEW YORK, NY (AUTHORLINK NEWS, April 7, 2009)Sales for the nations three largest bookstore chains fell a total of 5.4% for the fourth quarter of 2008 to $8.9 billion, according to a Publishers Weekly combined sales report. For the first time in years, combined sales for Barnes & Noble, Borders and Books-A-Million declined.
Borders took the biggest hit, with revenues declining 8.9% for the full year, and its comparable-store sales fell 10.8% at its superstores. Barnes & Nobles comparable store sales declined 5.4%.
Barnes & Noble 2008 sales fell 3.1% from $5.28 billion in 2007 to $5.12 billion in 2008. Borders sales fell from $3.59 billion in 2007 to $3.27 billion in 2008, or 8.9% . Books-A-Million declined 4.1% from $535 million in 2007 to $513 million in 2008.
In the fourth quarter of 2008 Barnes & Noble had a 6.2% drop, while Borders fell 13.8% and Books-A-Million declined 2.5%.
The outlook for the future also did not look bright, with the chains predicting negative sales trends will continue through 2009.