Mall operator says Amazon plans to open as many as 400 brick and mortar stores
The chief executive of General Growth Properties Inc., a mall operator, today said that Amazon could open as many as 400 retail stores. Whether Sandeep Mathrani was authorized to spill the beans is unknown, and Amazon refused comment, but such news would be considered good for his own mall business.
Not surprisingly, Barnes & Noble, which has over 600 store locations, had its stock price fall following the news – though to be fair, B&N’s share price has been falling since last summer when it was trading near $19 (it is now under $9).
The Wall Street Journal which reported the news – and is now experimenting with a more solid paywall, so there will no longer be links to their stories from here – said it would take years for Amazon to scout store locations and secure lease deals.