"In 10 years we'll have 450 to 500 stores," Mitchell Klipper, CEO of the company's retail group, told the Wall Street Journal. "You have to adjust your overhead, and get smart with smart systems. Is it what it used to be when you were opening 80 stores a year and dropping stores everywhere? Probably not. It's different. But every business evolves."
Barnes & Noble isn't the only bookstore corporation to feel the squeeze of digital publishing. In 2011, longtime competitor Borders went out of business, which many said was a result of its reluctance to move into e-books, according to Mashable.
The Nook, Barnes & Noble's e-reader, has seen some success, but the company's overall value has dropped by 10 percent since it spun off its e-book venture into a partnership with Microsoft, Mashable reported.