Commenting to Reuters on yesterday's Wall Street Journal
story that Borders is close to hiring George Jones, most recently of
Saks, as its CEO, David Schick, an analyst at Stifel Nicolaus, said it
made sense for a company trying to enhance the customer experience to
hire a veteran of high-end department stores, which pay serious
attention to the atmosphere of their stores.
"What book retailers are doing is turning from selling books to selling the bookstore experience," Schick told Reuters.
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In other Wall Street Journal-Borders news, an article in today's Journal recapping private equity funds' current interest in retailers includes this line: "Another category ripe for buyouts includes big-box retailers playing second or third fiddle in their niches, often because of missteps in operations or strategy. Examples: Petco Animal Supplies, jewelry retailer Zale Corp., BJ's Wholesale Club and bookseller Borders Group."
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And yet another Borders item . . . Later this month Borders is closing its 20,000-sq.-ft. store in Salt Lake City's downtown Crossroads Plaza because of reconstruction at the mall, according to the Salt Lake City Tribune. The store is not relocating and may reopen when construction is finished. The project is one of several malls in downtown Salt Lake City owned by the Mormon church that are being renovated.
"We will look to come back when they reopen," district manager Nanette Mathieu told the paper. "We'll do a negotiation at that time. It's not anything that can be assumed."
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Cool (bag o' used books) idea of the day: the Odyssey Bookshop, S. Hadley, Mass., has cut the price on many books left in its major used book sale. "Specially marked used books are just 50 cents a book or $5 for as many books as you can squeeze into one of our large shopping bags," the store said.
[Thanks to eagle-eyed local customer Rudy Mutter!]
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Sadly the Adirondack Daily Enterprise reports that With Pipe and Book, Lake Placid, N.Y., which sells tobacco as well as used and new books, prints and maps featuring Adirondack themes, will close this year. Owners Julie and Breck Turner may continue the business "perhaps as a catalogue or online operation."
The couple, who started the business in 1977 when they were both 19, will sell or lease their Main Street building. Julie Turner told the paper she was tired and hasn't had a summer off since she was 16. "I'm going to become a beach bum!" she added happily.
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Books-A-Million will open an 18,000-sq.-ft. store by November in the Village at Sandhill in Sandhill, S.C., near Columbia, according to the State. The developer told the paper that a bookstore was "the most requested addition to the retail center." The development company also approached Barnes & Noble about the site. BAM expects to open a total of 10 new stores this year nationwide. There are three other BAM stores in the Columbia area.
"What book retailers are doing is turning from selling books to selling the bookstore experience," Schick told Reuters.
---
In other Wall Street Journal-Borders news, an article in today's Journal recapping private equity funds' current interest in retailers includes this line: "Another category ripe for buyouts includes big-box retailers playing second or third fiddle in their niches, often because of missteps in operations or strategy. Examples: Petco Animal Supplies, jewelry retailer Zale Corp., BJ's Wholesale Club and bookseller Borders Group."
---
And yet another Borders item . . . Later this month Borders is closing its 20,000-sq.-ft. store in Salt Lake City's downtown Crossroads Plaza because of reconstruction at the mall, according to the Salt Lake City Tribune. The store is not relocating and may reopen when construction is finished. The project is one of several malls in downtown Salt Lake City owned by the Mormon church that are being renovated.
"We will look to come back when they reopen," district manager Nanette Mathieu told the paper. "We'll do a negotiation at that time. It's not anything that can be assumed."
---
Cool (bag o' used books) idea of the day: the Odyssey Bookshop, S. Hadley, Mass., has cut the price on many books left in its major used book sale. "Specially marked used books are just 50 cents a book or $5 for as many books as you can squeeze into one of our large shopping bags," the store said.
[Thanks to eagle-eyed local customer Rudy Mutter!]
---
Sadly the Adirondack Daily Enterprise reports that With Pipe and Book, Lake Placid, N.Y., which sells tobacco as well as used and new books, prints and maps featuring Adirondack themes, will close this year. Owners Julie and Breck Turner may continue the business "perhaps as a catalogue or online operation."
The couple, who started the business in 1977 when they were both 19, will sell or lease their Main Street building. Julie Turner told the paper she was tired and hasn't had a summer off since she was 16. "I'm going to become a beach bum!" she added happily.
---
Books-A-Million will open an 18,000-sq.-ft. store by November in the Village at Sandhill in Sandhill, S.C., near Columbia, according to the State. The developer told the paper that a bookstore was "the most requested addition to the retail center." The development company also approached Barnes & Noble about the site. BAM expects to open a total of 10 new stores this year nationwide. There are three other BAM stores in the Columbia area.