Yesterday Borders Group management announced that the bookseller is up for sale. A “difficult economic environment” has spurred executives to consider strategic alternatives, they said.
We find it interesting considering that the company had a pretty good quarter, at least compared to how some retailers are faring lately. Same-store sales at Borders stores rose 2.1% year over year during the fourth quarter, while even Waldenbooks, its quickly vanishing mall chain reported a 1.2% increase. Profits were only slightly down from a year ago, at $84.7 million compared to $87.7 million. Plus, the chain is even rolling out a new prototype.
Continue reading ‘Who Will Take Borders?’
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