Analysts had exercised caution about second quarter results for Borders, pointing to increased stock prices and much shuffling among the management, but the released results point to Borders still losing money, even having more or less eliminated capital expenditures entirely this year. Consolidated sales were $616.8 million, down 17.7% from a year ago. On an operating basis, Borders Group generated a second quarter loss of $12.7 million, compared to a loss of $10.5 million for the same period last year. On a GAAP basis, the second quarter loss was $45.6 million, compared to $11.3 million a year ago. The second […]
