Bye bye bookstore?
University considers moving campus bookstore to Highland in the next 2-3 years.
By: Nikki Bussey
Issue date: 9/16/08 Section: News
For students who rely on the Campus Bookstore for last minute items like Scantrons, they might have to walk a little further.
The University of Memphis is looking to move the Campus Bookstore to an off-campus location on Highland Street, as part of the Highland Row project. The move to Highland could increase its size and sales.
Charles Lee, vice president business and finance, told the Memphis Business Journal such a move could double or even triple the store's sales. He said universities across the country that have moved their bookstores off-campus have seen traffic and sales grow.
If it moves, Lee said, the empty space will be filled with another store, such as a Kroger grocery store, a health food store or a pharmacy.
"We're talking to a lot of people," he told the Memphis Business Journal. "It's early in the process."
The U of M Bookstore posted sales of $6.43 million during the 2008 fiscal year, up from $6.15 million in the previous year, according to the article. Lee said sales could climb if enrollment grows
Lee did not return The Daily Helmsman's phone calls or an e-mailed list of questions. He did release a brief statement about the possible move.
"We are not building a new bookstore," Lee said in an e-mailed statement. "We are exploring the option of moving into rental space that will come on board in 24-36 months. Since we have a contract with Barnes & Noble, they are helping us to understand whether there is a business case. If the bookstore is moved, we will seek replacements companies who offer services that students would like."
The idea for the move came from Dan Poag, CEO of Poag & McEwen, the development company heading the project.
"The University of Pennsylvania had built an off-campus Barnes and Noble, and from what I know, the business was dramatically higher," Poag said. "It made me start thinking about it, so I set up a meeting with Charles Lee."
Poag also said the building could accommodate up of 40,000 square feet, if The University of Memphis wanted the extra space, which is almost double the current sze of 22,000-square feet.
The University of Memphis is looking to move the Campus Bookstore to an off-campus location on Highland Street, as part of the Highland Row project. The move to Highland could increase its size and sales.
Charles Lee, vice president business and finance, told the Memphis Business Journal such a move could double or even triple the store's sales. He said universities across the country that have moved their bookstores off-campus have seen traffic and sales grow.
If it moves, Lee said, the empty space will be filled with another store, such as a Kroger grocery store, a health food store or a pharmacy.
"We're talking to a lot of people," he told the Memphis Business Journal. "It's early in the process."
The U of M Bookstore posted sales of $6.43 million during the 2008 fiscal year, up from $6.15 million in the previous year, according to the article. Lee said sales could climb if enrollment grows
Lee did not return The Daily Helmsman's phone calls or an e-mailed list of questions. He did release a brief statement about the possible move.
"We are not building a new bookstore," Lee said in an e-mailed statement. "We are exploring the option of moving into rental space that will come on board in 24-36 months. Since we have a contract with Barnes & Noble, they are helping us to understand whether there is a business case. If the bookstore is moved, we will seek replacements companies who offer services that students would like."
The idea for the move came from Dan Poag, CEO of Poag & McEwen, the development company heading the project.
"The University of Pennsylvania had built an off-campus Barnes and Noble, and from what I know, the business was dramatically higher," Poag said. "It made me start thinking about it, so I set up a meeting with Charles Lee."
Poag also said the building could accommodate up of 40,000 square feet, if The University of Memphis wanted the extra space, which is almost double the current sze of 22,000-square feet.