Bookmans is moving its flagship used-books-and-entertainment store into the site of its Sports Exchange, which it is closing.
The move of Bookmans Grant Entertainment Exchange from its 31-year home at the corner of East Grant Road and North Campbell Avenue will be done gradually, said Bob Oldfather, chief executive officer of the business.
The move to 3330 E. Speedway is expected to be completed by the end of March 2017. Both stores will remain open during the transition, Oldfather said.
Bookmans Sports Exchange is having a going-out-of-business sale through the fall with a 25 percent discount on all merchandise. The sales floor remains stocked with sports fitness, outdoor gear and winter apparel, and items will continue to be brought in from the companyβs warehouse until everything is sold, said Oldfather.
βPeople loved Sports Exchange. We were busy but we had a hard time getting enough sporting goods and equipment,β said Oldfather of the business that opened three years ago. βWe were getting more new items, and we are not a new items retailer. We are more of a recycler.
βSports Exchange never performed the way we hoped it did. We were forced to get into lower and lower margin items to get enough inventory. It just wasnβt profitable,β Oldfather said. βWe are a book dealer, and Sporting Exchange was an experiment.β
With the closing of Sports Exchange, 18 of its 25 employees will be let go, said Sean Feeney, president of Bookmans. A separation package for those employees will include a 20 percent bonus on their base pay, Feeney said.
The landlord of the property where the flagship store has been located for three decades plans to βblade the property and build a new building because of the Grant Road widening project,β Oldfather said.
The Speedway location has better access because of a bike path on Third Street and available parking, and the building is similar in size to the Grant location, he said. βThe sales area is more than 12,000 square feet, not including the office space, processing and storage area,β Oldfather said.
In addition to the Grant-Campbell store, Bookmans has a northwest-side books-and-entertainment location at West Ina and North Thornydale roads, and an east-side store at East Speedway and North Wilmot Road; as well as one store each in Phoenix, Mesa and Flagstaff.
