Actually if you look at the results, textbook sales are down in the industry. There was a post/link on this site previously. "College Retail" is on the decline, it is moving into mainstream retailers space which provide significant competition. Wait until financial aid moves to Paypal.
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The industry as understood by Follett - exclusivity, margin enhancements, guaranteed sales - is indeed on the decline. College retail is not on the decline, it just is moving in away that does not play to follett's strength.
Industry is on the decline, FSS or FHEG. Every year will be a reset.