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

Editor's Choice

  • Book Jacket: In Extremis
    In Extremis
    by Lindsey Hilsum
    International journalist Marie Colvin pushed the limits in her work and her personal life. Widely ...
  • Book Jacket: Vita Nostra
    Vita Nostra
    by Marina and Sergey Dyachenko
    Vita Nostra by Ukrainian authors Sergey and Marina Dyachenko is one of those novels that defies ...
  • Book Jacket: And The Ocean Was Our Sky
    And The Ocean Was Our Sky
    by Patrick Ness
    Patrick Ness has developed a reputation for experimental literature executed well, and his latest, ...
  • Book Jacket: Let It Bang
    Let It Bang
    by RJ Young
    Every interracial love story is an exercise in complications. R.J. Young and Lizzie Stafford's ...

Book Discussion
Book Jacket
Unsheltered
by Barbara Kingsolver

A timely novel that explores the human capacity for resiliency and compassion.

About the book
Join the discussion!

Readers Recommend

  • Book Jacket

    The Kinship of Secrets
    by Eugenia Kim

    Two sisters grow up bound by family but separated by war; inspired by a true story.
    Reader Reviews

  • Book Jacket

    A Ladder to the Sky
    by John Boyne

    A seductive, unputdownable psychodrama following one brilliant, ruthless man.
    Reader Reviews

Win this book!
Win Severance

Severance by Ling Ma

An offbeat, wryly funny, apocalyptic satire that is featured on more than twenty 2018 "Must Read" lists!

Enter

Word Play

Solve this clue:

I Ain't O U T F L S

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.