Borders’ Down Quarter, As Predicted In line with warnings from a month ago, Borders reported a consolidated net loss of $5.3 million for the first quarter, compared to income of $2.3 million the same time last year. Borders superstores hit $579 million in sales (down 0.7 on a comparable-store basis); what’s now called Waldenbooks Specialty Retail (reflecting the conversions of many stores to Borders Express, plus Borders Outlet and airport stores) registered $143 million, still declining year-by-year, and down 3.1 percent on a same-store basis; and the international stores did $125 million in business. Ironically — and/or amusingly to those […]
