August 27, 2008 |
Borders Group Inc. reported a narrower second-quarter loss. The second-largest U.S. bookseller lost $9.2 million, or 15 cents a share, compared with $25.1 million, or 43 cents, a year earlier. Revenue fell to $758.5 million from $812.4 million, the company said.
November 6, 2009 |
Borders Group Inc. says it will close 200 Waldenbooks stores and cut 1,500 jobs in January to make the chain smaller and more profitable. Borders, based in Ann Arbor, Mich., said the closings would leave about 130 Waldenbooks stores still in business. The company says the closures will not affect any Borders superstores or any of its mall kiosks, including 500 Day by Day Calendar Co. spots and other mall-based stores.
May 31, 2007 |
Two agentless authors will have novels out this fall after winning a contest sponsored by Simon & Schuster, Borders Group Inc. and the social media website Gather.com. Terry Shaw, 44, came in first for "The Way Life Should Be," a mystery set in coastal Maine. Only one winner was planned, but judges decided to award a publishing deal to the second-place book, 30-year-old Geoffrey Edwards' "Fire Bell in the Night," a thriller set in the antebellum South.
September 9, 1999 |
Webvan Group Inc., an online grocer, disclosed terms for its initial public offering that would place the company's market value at about $3.8 billion. The Foster City, Calif.-based company will sell 25 million common shares at $11 to $13 each, according to an amended registration statement filed with the Securities and Exchange Commission. The company will have almost 317.5 million shares outstanding after the IPO, according to the filing, so the public will hold a 7.
June 12, 2008 |
Billionaire hedge fund manager William Ackerman said Borders Group Inc. should consider approaching online retailer Amazon.com Inc. about a possible acquisition. The founder of Pershing Square Capital Management said Borders, of which the hedge fund owns about 30%, could become the "bricks-and-clicks" component of Amazon's nationwide sales strategy. Borders, which put itself up for sale in March, has about 500 retail outlets across the country. "Amazon could buy the company for about $400 million to get those locations that would take more than $1 billion to build," he said.
October 3, 2007 |
Two leading booksellers announced competitions this week, continuing the industry's unending search for new talent and the increasing willingness to let others do the searching. Amazon.com, Penguin Group (USA) and Hewlett-Packard Co. have launched the Amazon Breakthrough Novel Award, which offers a contract with Penguin and a small advance, $25,000. Meanwhile, Borders Group Inc., Court TV and Gather.
November 26, 2008 |
Borders Group Inc. said it was no longer considering a sale of the company. It said it might still sell its Paperchase Products unit to Pershing Square Capital Management for $65 million. The bookseller posted a third-quarter net loss of $175.4 million, or $2.90 a share, wider than the $161.1 million, or $2.74, deficit a year earlier, as consumers cut back on purchases of books and magazines. Revenue fell to $693.4 million from $765.2 million, the Ann Arbor, Mich.-based company said.