It’s been a long time since I’ve set foot into a Waldenbooks store, but Bloomberg reports that Waldenbooks is shutting half of its stores, selling the majority of its international division after an unexpected loss. Waldenbooks is owned by Borders Group Inc. and CEO George Jones has said that Borders’ new focus will be giving its larger bookstores an overhaul and revamping its website. The ever-reliable Jim Milliot has more: Borders will be developing a new “concept store” this year, with the first one set to open early next year. There’s no word on whether these “concept stores” will be the capitalist equivalent of a 1970s progressive rock album, but Jones did remark, “We have too much inventory in our stores.” Whether “too much inventory” translates into not enough blockbusters and fewer independent titles is a mystery, but it recalls a particular Anne Sexton poem that doesn’t exactly leave readers performing happy pirouettes on an expansive lawn.
© 2007, Edward Champion. All rights reserved.