Borders sales down in 2nd quarter

From the press release:

Borders Group, Inc. (NYSE: BGP) today reported results for its second quarter ended July 31, 2010. Highlights include:

  • Second quarter sales were $526.1 million, down 11.5% from the same period a year ago, with comparable store sales declining by 6.8%. sales increased 56.2% over the prior year, to $15.5 million.
  • The company generated a loss from continuing operations in the second quarter of $51.6 million or $0.74 per share compared to a loss of $45.1 million or $0.75 per share for the same period a year ago.
  • Debt net of cash decreased compared to the first quarter by 13.7%, or $41.5 million. It increased by 2.7% compared to the second quarter of last year, to $262.1 million.

At this point it would be redundant to say they are doomed.

About Nate Hoffelder (11809 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

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