Amazon keeps mum on bookstore speculation

Amazon is declining comment on reports it may be planning to open more bookstores.

In a call with analysts on Tuesday, Sandeep Mathrani, the CEO of mall operator General Growth Properties, said in an offhand comment related to a question about holiday traffic that Amazon had plans to open 300 or 400 bookstores.

But on Wednesday, GGP issued a statement saying that his remarks were "not intended to represent Amazon's plans."

A New York Times report, citing one unidentified source Wednesday, said Amazon could open more bookstores in the future but at a more modest pace.

Amazon said it does not comment on rumors or speculation.

Amazon operates one bookstore in Seattle and about five staffed pickup locations for textbooks at universities, with plans for two more in 2016.

Shares of Seattle-based Amazon.com Inc. fell 3.8 percent on Wednesday to close at $531.07.

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