Sales at Bookstores Drop Drastically in November

Retail sales at bookstores during November 2008 fell drastically this year over last November. Sales are estimated at $1,054 million, a drop of 13.0 percent from the $1,211 million in bookstore sales for the same period last year, according to statistics recently released by the Bureau of the Census. For the year to date, retail bookstore sales are nearly flat, up by only an estimated 0.1 percent as compared 2007.

The Census Bureau also adjusted its preliminary estimates of October 2008 bookstore sales down to $1,053 million, putting them at 6.2 percent below October 2007.

Total retail and food service sales fared only slightly better than bookstores sales in October. Retail sales were an estimated $343.7 billion in November 2008, compared to $381.3 billion in November 2007, a decrease of 9.7 percent. For the year, total retail and food service sales are up an estimated 0.7 percent over last year.

(p) Preliminary figure

Note: Estimates reflect sales of all types of participating bookstore, including trade, college, religious, chain stores (including superstores), and others. A bookstore is defined as any retail establishment with sales comprised of more than 50 percent new books and periodicals, and estimates include sales of all products in these stores.