Borders announces loss and plans to restructure

BookBrowse News - The Full Story

Borders announces loss and plans to restructure

Mar 22 2007

Borders Group announced both a fourth-quarter loss and plans to "reinvent itself" through a plan to roughly triple pretax profit margins.

The company's plan entails boosting inventory turnover by 25%, focusing on its domestic superstores (redesigning some to include digital centers), nearly cutting in half the size of the Waldenbooks chain, considering alternatives for most of its 73 international stores (selling all 41 in the UK), and introducing a new e-commerce site in 2008 - thus ending the alliance it has had with Amazon.com since 2001.

Waldenbooks (smaller stores operated mainly in malls) has been particularly affected by the downturn in the book market. As a result, Borders plans to close nearly half of its Waldenbooks outlets over the next 18 months. By the end of 2008, it expects to be operating only 300 Waldenbooks, down from 564 at the end of 2006.

Mirroring moves made by Barnes & Noble Inc, Borders plans to build a much bigger proprietary publishing operation by striking deals with Hollywood writers, celebrities and best-selling authors.

More News Stories

One-Month Free Membership

Discover your next great read here

Join Today!

Editor's Choice

  • Book Jacket: Good Me Bad Me
    Good Me Bad Me
    by Ali Land
    Is a psychopath born or made? This is the terrifying question that author Ali Land explores in her ...
  • Book Jacket: Five-Carat Soul
    Five-Carat Soul
    by James McBride
    In the short story "Sonny's Blues," from the 1965 collection Going to Meet the Man, African-...
  • Book Jacket: This Blessed Earth
    This Blessed Earth
    by Ted Genoways
    For the Hammonds, a farming family in Nebraska, the 2014 harvest season started with a perfect storm...

Book Discussion
Book Jacket
All the Ugly and Wonderful Things by Bryn Greenwood

"A powerful, provocative debut ... Intelligent, honest, and unsentimental." - Kirkus, starred review

About the book
Join the discussion!

First Impressions

  • Book Jacket

    Seven Days of Us
    by Francesca Hornak

    A warm, wry debut novel about a family forced to spend a week together over the holidays.
    Reader Reviews

Win this book!
Win The Wisdom of Sundays

The Wisdom of Sundays
by Oprah Winfrey

Life-changing insights from super soul conversations.

Enter

Word Play

Solve this clue:

A Good M I H T F

and be entered to win..

Books that     
entertain,
     engage

 & enlighten

Visitors can view some of BookBrowse for free. Full access is for members only.

Join Today!

Your guide toexceptional          books

BookBrowse seeks out and recommends books that we believe to be best in class. Books that will whisk you to faraway places and times, that will expand your mind and challenge you -- the kinds of books you just can't wait to tell your friends about.