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Same-store sales for the period were down 3. Many traditional retailers are struggling against online powerhouse Amazon. Target, too, has said it will match prices from Amazon and other select online retailers in This means that price matching schemes are likely to be futile. Both Apple and Amazon, for example, have invested heavily in video content and digital music distribution. As store traffic fell for the three months ended December 31, Nook sales slipped, too.
The national chain that many blamed for the demise of independent bookstores has been ravaged by Amazon. On Friday, it was acquired by Elliott Management and, in a twist, will likely become a national chain with a business model more akin to that of a local bookstore.
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