Borders Reports 1Q Earnings

Borders Reports 1Q Earnings
June 06, 2008

Ann Arbor, Mich.-based Borders Group Inc. reported total consolidated sales of $784.7 million, a 1 percent decrease, for the first quarter ending May 3, 2008. Net loss from continuing operations was $31.7 million, compared to $29.1 million for the same time period last year. Domestic comparable-store sales dropped 4.1 percent, while international comparable-store sales rose by 3.1 percent. Gross margin from continuing operations declined by 0.3 percent to 23 percent of sales, versus 23.3 percent. The company also opened five new stores in the United States for the quarter. "As was the case with nearly every other retailer, the challenging overall consumer environment hampered sales performance in the first quarter," said George Jones, CEO of Borders. The company operates more than 1,100 stores worldwide.

Produced by: Nielsen Business Media, a part of the Nielsen Company
	Hospitality Design \| Kitchen & Bath Business \| Display & Design Ideas Multi-Housing News \| Commercial Property News \| Impressions

DDI has been heralding the latest retail store design ideas since 1988 and has become a trusted source for all things retail. When DDI first appeared 20 years ago, the market was right for a magazine that focused on the retail environment. DDI has grown to become the retail design resource for store design concepts and a trusted guide to retail design ideas. DDI carefully chronicles the changes and focuses on the things that generate a buzz the world over in the retail industry.