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 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: Women & Power
    Women & Power
    by Mary Beard
    The treatise Women & Power: A Manifesto discusses a scene in Homer's Odyssey in which Odysseus&...
  • Book Jacket: Speak No Evil
    Speak No Evil
    by Uzodinma Iweala
    Young Nigerian American writer Uzodinma Iweala is fast becoming known as a powerful chronicler of ...
  • Book Jacket: Winter
    by Ali Smith
    "God was dead; to begin with." This first sentence of Winter perfectly sets up the dreamy journey ...
  • Book Jacket: A Land of Permanent Goodbyes
    A Land of Permanent Goodbyes
    by Atia Abawi

    When you're a refugee, everyone has lost, at least for the time being... And the journey ...

First Impressions

  • Book Jacket

    Sometimes I Lie
    by Alice Feeney

    This brilliant psychological thriller asks: Is something a lie if you believe it's the truth?
    Reader Reviews

Win this book!
Win The Balcony

The Balcony
by Jane Delury

A century-spanning novel-in-stories of a French village brimming with compassion, natural beauty, and unmistakable humanity.


Word Play

Solve this clue:

One N U G

and be entered to win..

Books that     

 & 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.