June 20, 1995 |
Book retailer Borders Group Inc. said Monday that it is cooperating with a Justice Department antitrust inquiry into the closure of mall bookstores by its Waldenbooks chain. Rick Vanzura, Borders' vice president of group planning and resource management, said the Justice Department has sought information on whether the company has held any talks about mall closures with its archrival, B. Dalton Bookseller, a unit of Barnes & Noble Inc.
October 2, 2008 |
Borders Group Inc. issued 5.15 million warrants to Pershing Square Capital Management because the chain couldn't find a buyer by Wednesday's deadline. The warrants give Pershing the right to purchase stock at $7 a share, Borders said. Pershing, led by William Ackman, controls more than a third of the company and has stakes in several large retailers, including Target Corp. and Sears Holdings Corp. Borders borrowed $42.
April 8, 1999 |
Borders Group Inc., the No. 2 bookstore chain criticized by Wall Street for its modest Internet showing and sluggish retail sales, said Wednesday that it will boost its shopping mall presence by buying a seller of toys and novelties at kiosks. All Wound Up will retain its name and be operated as a unit of Borders' Waldenbooks, which has 600 seasonal mall kiosks.
May 23, 2008 |
Barnes & Noble Inc. appears to be getting more serious about buying chief rival Borders Group Inc., confirming that it had put together a management team to study the feasibility of a combination. The disclosure came as Barnes & Noble, the nation's largest bookseller, reported a wider loss in its fiscal first quarter on a tax-related charge and lowered its sales guidance for the year. Speculation had been mounting about a possible Barnes & Noble-Borders combination since Borders announced in March that it was putting itself up for sale and that it had lined up $42.5 million in financing to help it continue operations.
April 11, 2001 |
Amazon.com is reportedly going to take over Borders Group Inc.'s online operations as part of a new partnership between the two companies. The new alliance would mean that Borders would effectively exit the online book-selling business, The Wall Street Journal reported on its Web site, citing people familiar with the deal.
June 2, 1999 |
Before long, readers who can't find the book they want on the shelves at their local Borders bookstore may be able to get a custom-printed paperback copy in a matter of minutes. Borders Group Inc. said Tuesday that it had acquired a 19.9% stake in Atlanta-based Sprout Inc., a first step toward providing books on demand. Terms were not disclosed.
March 4, 2000 |
Borders Group Inc. said Friday that it hired Merrill Lynch & Co. for advice on ways to boost the book retailer's stock, which has fallen 70% in about two years. The No. 2 U.S. book chain is looking at such options as a leveraged buyout, a business combination with another company, or a recapitalization. The news sent Borders shares up $2.06, or 16%, to close at $14.94 on the New York Stock Exchange. The stock has tumbled from a peak of $39.
November 17, 2000 |
Other earnings, excluding one-time gains or charges unless noted, include: * American Eagle Outfitters Inc.'s third-quarter profit grew 20% to $29.2 million, or 61 cents a share, well beyond the 54 cents analysts anticipated. The retailer's sales rose 27% to $282.8 million, led by strong demand for its branded denim, sweaters, knits and accessories. * Barnes & Noble Inc. reported a third-quarter net loss of 4 cents a share, excluding charges from its investment in Barnesandnoble.
March 23, 2007 |
A sluggish book market and intense competition from rivals such as Amazon.com and Costco Wholesale Corp. are forcing the nation's top two booksellers -- Barnes & Noble Inc. and Borders Group Inc. -- to rewrite the rules on the book business. Their challenges were revealed as both merchants reported disappointing fourth-quarter results Thursday.
August 13, 1998 |
Federated Department Stores Inc., Nordstrom Inc. and Dillard's Inc., three leading department store operators, reported better-than-expected second-quarter earnings Wednesday, benefiting from cost-cutting and strong sales. Specialty retailer Intimate Brands Inc., which sells Victoria's Secret lingerie, also said its profit rose slightly more than expected.