Barnes & Noble Comp Sales Drop; Sears Store Closings Mirror Brick-and-Mortar Woes
Traditional brick-and-mortar retailers continued to get hammered over the holiday season, despite an overall increase in consumer retail spending. Barnes & Noble reported Thursday holiday sales for the nine-week period ended Dec. 30 fell 6.4 percent. Comparable stores sales at…
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BN fell 6.4 percent, while online sales decreased 4.5 percent, it said. Declines in BN’s gift, music and DVD categories accounted for nearly half of the comp sales decline; the company didn’t break out figures for Nook hardware and software. BN's stock closed Friday at $5.60, down 13.9 percent. Sears said it will shutter 64 Kmart and 39 Sears stores in March and April, with liquidation sales to begin Friday. Mastercard SpendingPulse reported last month holiday sales grew 4.9 percent in 2017 through Christmas, setting a new record for dollars spent. Online shopping saw year-on-year gains of 18.1 percent, it said.