Amazon Brick-and-Mortar Talk Puts Barnes & Noble in Tailspin
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Barnes & Noble Inc. shares plunged following speculation that Amazon.com Inc. will open hundreds of physical bookstores, potentially thrusting the companies’ longtime rivalry into America’s shopping malls.
The stock fell 9.4 percent to $7.33 in New York on Wednesday, following a 5.4 percent decline the previous day. The rout followed remarks from a mall executive, who said Amazon was planning to open 300 to 400 stores. He later said that his comments weren’t mean to represent Amazon’s actual intentions.