Post by politicidal on Dec 31, 2017 2:07:07 GMT
With a timely quote by Ernest Hemingway no less:
Here is one way to measure the upheaval in bookselling: Replacing Book World as the fourth-largest chain, Publishers Weekly says, will be a company that had no physical presence a few years ago. That would be Amazon, which having conquered the virtual world has opened or announced 15 bookshops, including at the Time Warner Center in Manhattan.
In a famous passage in Ernest Hemingway’s “The Sun Also Rises,” a novel that Book World used to sell, a character is asked how he went bust. “Two ways,” he answers. “Gradually and then suddenly.”
That more or less mirrors what happened to Book World and other bookstore chains.
A few years ago, e-books were widely assumed to be driving the physical book — and the physical bookstore — to extinction. Instead, e-book sales leveled off, and the physical book has retained much of its appeal.
But readers are increasingly ordering those books online, getting them delivered with their clothes and peanut butter and diapers. Bookstore sales were $684 million in October, the Census Bureau said this month, off 4.6 percent from a year earlier and down 39 percent from a decade ago.
“There aren’t many businesses that can survive a 20 to 30 percent drop,” said Mr. Streur, 68. “Closing was the last thing in the world I wanted. But reality sets in.”
It was an abrupt decision that surprised even his 300 full- and part-time employees; a few said that at least some of the stores — especially those that catered to tourists — seemed to be holding their own. Book World had opened a store in Jefferson City, Mo., just a few weeks before.
But a search for buyers for the chain or even some of the stores came up short. The chain swung from a profit in 2014 to break-even in 2015 to a loss in 2016, although Mr. Streur declined to provide numbers.
“There was nobody interested in buying us,” he said.
www.msn.com/en-us/news/other/bookstore-chains-long-in-decline-are-undergoing-a-final-shakeout/ar-BBHsMCd?OCID=ansmsnnews11
Here is one way to measure the upheaval in bookselling: Replacing Book World as the fourth-largest chain, Publishers Weekly says, will be a company that had no physical presence a few years ago. That would be Amazon, which having conquered the virtual world has opened or announced 15 bookshops, including at the Time Warner Center in Manhattan.
In a famous passage in Ernest Hemingway’s “The Sun Also Rises,” a novel that Book World used to sell, a character is asked how he went bust. “Two ways,” he answers. “Gradually and then suddenly.”
That more or less mirrors what happened to Book World and other bookstore chains.
A few years ago, e-books were widely assumed to be driving the physical book — and the physical bookstore — to extinction. Instead, e-book sales leveled off, and the physical book has retained much of its appeal.
But readers are increasingly ordering those books online, getting them delivered with their clothes and peanut butter and diapers. Bookstore sales were $684 million in October, the Census Bureau said this month, off 4.6 percent from a year earlier and down 39 percent from a decade ago.
“There aren’t many businesses that can survive a 20 to 30 percent drop,” said Mr. Streur, 68. “Closing was the last thing in the world I wanted. But reality sets in.”
It was an abrupt decision that surprised even his 300 full- and part-time employees; a few said that at least some of the stores — especially those that catered to tourists — seemed to be holding their own. Book World had opened a store in Jefferson City, Mo., just a few weeks before.
But a search for buyers for the chain or even some of the stores came up short. The chain swung from a profit in 2014 to break-even in 2015 to a loss in 2016, although Mr. Streur declined to provide numbers.
“There was nobody interested in buying us,” he said.
www.msn.com/en-us/news/other/bookstore-chains-long-in-decline-are-undergoing-a-final-shakeout/ar-BBHsMCd?OCID=ansmsnnews11
