Amazon is planning to open hundreds of physical bookstores according to a mall CEO who spoke to Dow Jones.

In November, Amazon opened its first brick-and-mortar store in Seattle. Described as a "physical extension of Amazon.com", Amazon Books offers titles that have been chosen based on the e-commerce site's own customer ratings and sales.

This story is developing. Please check back for further updates.

Click here for the latest on the markets.

—CNBC's Alexandra Gibbs contributed to this report.