Posted by: Kathy Temean | August 27, 2009

Borders Posts Larger Than Expected Loss

Borders Posts Larger-than-Expected Q2 Loss After After-Tax Charges – down 17.7% from a year ago.

CEO Ron Marshall says, “The second quarter was a transitional one as we made significant space and inventory reductions to strategically position declining categories for profitability while further developing businesses that have potential.” Despite sales drops in the short run, Marshall believes Borders stores “are now better positioned to drive improved sales in the back half of the year” and that efforts to cut debt, generate cash flow and reduce inventory appeared to help the balance sheet.


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