Source: CNN Money
By: Verne Kopytoff
John Evans, co-owner of Diesel, a small California bookstore chain, gives an emphatic “no” when asked if he’s crazy for opening a new store this summer near San Francisco. After all, bookstores are doomed, right? Amazon (AMZN) is shoving them into extinction. E-books are taking over.
Well, not so fast. After years of steep decline, independent bookstores have turned the corner — to a point. Sales grew 8% in 2012 and are on track for similar gains this year, according to the American Booksellers Association. The uptick is welcome news for the industry, which has been in turmoil throughout recent memory.