Amazon to Open 300 to 400 More Physical Stores?
February 3, 2016,
SEATTLE—Amazon is reportedly planning to open 300 to 400 brick-and-mortar bookstores in addition to the one it debuted here in November, according to a comment by Sandeep Mathrani, CEO of mall operator General Growth Properties, during a conference call with financial analysts.
Replying to an analyst question about future mall traffic during the call detailing General Growth Properties’ fourth quarter financial results, Mathrani said “you go to Amazon opening brick-and-mortar book stores and their goal is to open, as I understand, 300 to 400 book stores.” Mathrani used this as an example of the continuing relevance of malls and brick-and-mortar stores going forward, but did not go beyond this comment as to where he got this information.
Stories about Mathrani’s comment appeared in the New York Times and the Wall Street Journal, along with a number of wire services. The Times story cited an anonymous source who stated that Amazon plans to open more retail stores, but on a more modest scale than the numbers stated by Mathrani. Contacted by HFN, Amazon declined to comment.
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