You are here

Mall operator CEO clarifies comments on Amazon bookstores

amazon040216.jpg
The CEO of a US mall operator who said this week that Amazon.com Inc plans to open up to 400 physical bookstores clarified his comments on Wednesday, saying they were "not intended" to represent the online retailer's plans.

[BENGALURU] The CEO of a US mall operator who said this week that Amazon.com Inc plans to open up to 400 physical bookstores clarified his comments on Wednesday, saying they were "not intended" to represent the online retailer's plans.

Sandeep Mathrani, the chief executive of Chicago-based General Growth Properties Inc, which owns and leases retail mall properties, said on his company's earnings call with analysts on Tuesday that Amazon had plans to open "300 to 400 bookstores." His comments drove down shares of bookseller Barnes & Noble Inc.

The mall operator did not, however, indicate whether the new statement means Amazon is not planning bookstores. Kevin Berry, the vice president of investor relations at General Growth, declined to elaborate further.

An Amazon spokeswoman said on Tuesday that the company does not comment on "rumours and speculation." Before branching out to offer everything from fresh groceries to original TV programming, Amazon started as an online bookseller 20 years ago.

sentifi.com

Market voices on:

Amazon opened a bookstore in its home city of Seattle in November. An expansion of bookstores would be a surprise reversal for the online retailer credited with driving physical booksellers out of business.

Amazon's bookstore in Seattle carries books selected based on customer ratings and their popularity on Amazon.com. The storefront also provides a space for visitors to test-drive Amazon's Kindle, Fire TV and other devices.

REUTERS

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom