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