July 29, 1999 |
Borders Group Inc., the No. 2 U.S. book retailer, said the president of its online division, Cedric Vanzura, resigned. Vanzura said he's leaving to take an Internet-related job with Dell Computer Corp. The departure comes three months after the resignation of Philip Pfeffer as Borders chief executive. The company is searching for a new CEO. Vanzura, 35, joined Borders in 1994 and was named president of Borders Online in April. He will remain on the job until mid-August.
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.
April 22, 1999 |
Borders Group Inc. said its chief executive, Philip M. Pfeffer, resigned from the nation's No. 2 bookstore chain after just five months, departing as the company struggles to keep pace with rivals Barnes & Noble and Amazon.com. Borders declined to comment on why Pfeffer was leaving. Robert DiRomualdo, Borders chairman and former CEO, will assume the CEO role for now. The Ann Arbor, Mich.
April 13, 1999 |
Borders Group Inc., the No. 2 U.S. bookseller, plans to concentrate on opening retail stores to boost sales rather than focusing on its Internet business to compete with more successful online booksellers, its vice chairman said. Borders, which operates about 1,200 Borders, Waldenbooks and Brentanos stores, plans to add about 45 U.S. superstores this year, bringing its total to 290.
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.
November 13, 1998 |
Dell Computer Corp. said Thursday that its fiscal third-quarter profit rose 55% to $384 million, or 28 cents a share, as sales climbed 51%, somewhat less than some forecasts for the high-flying personal computer maker. Separately, Borders Group Inc., the nation's second-largest bookseller, reported a fiscal third-quarter loss that matched estimates and said it hired a new chief executive. Other retailers reported strong gains for the latest quarter. Profit at Dell, the No.
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.