Wall Street seems to think that Borders can survive following a second quarter report showing weak sales but a reduced operating loss and slimmer debt-load, with shares up twenty-five percent over yesterday’s close in early trading. (That said, the stock price is still below the strike price of the options granted to Pershing Square earlier this year when they provided the company with an emergency loan.) Sales from continuing operations in the fiscal second quarter actually fell more than expected, reaching just $749 million, but the company’s loss from continuing operations of $11.3 million (19 cents per share) was much […]
