Borders’ Weakness on Target Borders turned in the poor second quarter performance they warned of in July, but at least the company was at the better end of their lowered expectations. Superstore sales of $600 million were down 5.3 percent on a comparable-store basis, even as remodeled stores are performing better than other outlets. Waldenbooks were down more, as usual, to $126.5 million, a big 12.1 percent drop on a same-store basis. International growth is still sluggish, up 6 percent to $129 million, but down 3.4 percent on a comparable-store basis in local currency, due to continued weakness in the […]
