Discovery Communications has plans to close all 103 of its mall-based and stand-alone Discovery Channel stores in order to focus on its e-commerce platform.
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| Discovery Channel To Focus On E-Commerce |
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"By eliminating our owned and operated brick-and-mortar storefronts, which are cost-intensive and complicated businesses, Discovery can focus its efforts on high-growth e-commerce and licensing operations," said David Zaslav, President and CEO of Discovery Communications.
Discovery's e-commerce business includes DiscoveryStore.com and partnerships with Amazon and eBay. Combined they had a 144 percent increase in sales in 2006.
The stores are slated to close by the end of the third quarter 2007. DJM Realty will oversee the disposition of the locations.
"We are excited to offer these premier real estate properties ranging from 2,000 to 4,500 square feet to businesses nationally," said Peter Lynch, Principal of DJM Realty.
Discovery Communications will continue its licensing partnership with the Hudson Group, which manages Discovery Channel Airport Stores in the U.S. and Canada.
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