The results were still not as bad as expected, with analysts anticipating a loss of 50 cents per share for continued operations, as opposed to the 27 cents loss per share reported.
Total consolidated first-quarter sales were $641.5 million, down 12.1% from the prior year. Comparable-store sales for the first quarter declined by 13.5% and 5.5% at Borders superstores and
Waldenbooks Specialty Retail stores, respectively. The company is focusing on driving sales as the key to long-term success, according to Borders Group CEO Ron Marshall. He told analysts on a call
Wednesday morning that the company is taking action to reverse the slide.--Tanya Irwin
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In spite of a few comments heard around the office, this decline is not being fueled by Kindle since it has not built a big enough base. I suspect it is a bit of a self-fulfilling prophecy as Borders has pulled back on all spending in local market media and online media. eMail marketing seems to be their only effort and it is clearly NOT working.