Sales at Borders Group in the second quarter ended July 31 fell 11.5%, to
$526.1 million, and the net loss was $46.7 million compared to a net
loss of $45.6 million in the same quarter a year ago.
Sales at superstores open at least a year fell 6.8%; sales at Borders.com rose 56.2%, to $15.5 million.
"While
we continue to succeed in strengthening our financial structure, we are
highly focused on driving profitable sales and increasing market
share," Borders CEO Mike Edwards said in a statement. "Based on
extensive consumer research, we are doing a number of things to excite
our customers going into the critical holiday shopping season, including
launching our new Borders Rewards program, which includes the new paid
Borders Rewards Plus. Recognizing that online and digital will be a
significant part of our business moving forward, we are focused on
increasing our share of the eBook market by growing our digital
offerings to position Borders as the preferred destination for digital
reading. Yet as we grow our online and digital business, we cannot
underestimate the importance of our brick and mortar presence. This will
be top of mind as we work on improving the in-store experience by
shifting our product mix to include additional non-book products that
are both compelling and relevant, and providing an escape for our
customers though an inspirational in-store environment and consistent
customer service."