Industry challenges take toll on Borders' Q3

ANN ARBOR, Mich. - Borders Group reported that sales for the third quarter were $470.9 million, which is a decrease of 17.6% from the same period a year ago. On a comparable-store sales basis, sales declined 12.6%, driven primarily by the adult trade category, according to the company. Sales were also negatively impacted by Borders.com, which saw a third quarter decrease of 8.6% over the prior year to $12.5 million.

The company incurred a loss from continuing operations in the third quarter of $74.4 million or $1.03 per share. For the same period a year ago, the company had a loss of $37.7 million or 63 cents per share. The company attributed its third quarter loss from continuing operations primarily to decreased gross margin.

 

Industry challenges take toll on Borders' Q3

ANN ARBOR, Mich. - Borders Group reported that sales for the third quarter were $470.9 million, which is a decrease of 17.6% from the same period a year ago. On a comparable-store sales basis, sales declined 12.6%, driven primarily by the adult trade category, according to the company. Sales were also negatively impacted by Borders.com, which saw a third quarter decrease of 8.6% over the prior year to $12.5 million.

The company incurred a loss from continuing operations in the third quarter of $74.4 million or $1.03 per share. For the same period a year ago, the company had a loss of $37.7 million or 63 cents per share. The company attributed its third quarter loss from continuing operations primarily to decreased gross margin.

 

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