B&N aims to open 50 stores in 2024

In the US, Barnes & Noble (B&N) CEO James Daunt has announced the chain has set a goal of opening 50 new stores in 2024, reports Publishers Weekly (PW).

According to PW, B&N opened around 30 new stores in 2023, while closing and reconfiguring others, and had ended the year with 609 stores, about 10 more than the previous year.

As well as opening new stores, Daunt said the business was also investing in its IT and distribution operations. The planned expansion follows a ‘very solid’ holiday season and ‘a good year’ for the chain, with a makeover of its membership program more than doubling the number of customers enrolled. It also comes as staff at five B&N stores have voted to unionise.

Daunt said the B&N café business had benefited from more customer traffic in 2023 and newsstand sales were up with the support of sales of Taylor Swift’s Time cover; however, Daunt also said that, after a strong year for gift sales in 2022, the category did ‘less well’ in 2023, partially because gift item space was reallocated for books.

Daunt said the goal of opening 50 new stores would result in the highest number of store openings in 15 years. ‘We are entering a period of significant growth,’ said Daunt.

Category: International news