With sales of trade books falling about 6.8% on a same store basis in the second quarter and forecasts calling for more book sales to migrate from print to digital over the next few years. the number one focus at Borders is to redefine its store model, Mike Edwards, CEO and Glen Tomasczewski, interim CFO, [...]
The $99 price point on e-readers has finally, officially been reached! Beware the crowds on the street rushing to Borders to adopt the habit of digital reading.
The Borders group reduced the price of the two e-readers it sells–the Kobo and Aluratek e-readers–to $129 and $99 respectively. No doubt Borders hopes to make up for [...]
Amidst all the doom and gloom of the book publishing industry, the CEO of Ingram Book Company, Skip Prichard, says books of all sorts are here to stay and we should embrace the change—and keep on reading.
The Kindle. The iPad. The Nook. Not to mention at least thirty other reading devices or Google [...]
Borders has reached an agreement with JiWire, a location-based mobile media company with an advertising platform, to enable companies to run ads across Borders’ Wi Fi network. According to JiWire, any time a user connects to Wi Fi in any Borders’ locations “they will see location-targeted messages and offers from leading national brands.” Under terms [...]
With dismal holiday sales, sagging shares, loan deadlines, layoffs and the resignation of its most recent CEO, Ron Marshall, Borders Group Inc. may face pressure from investors to consider a pre-packaged bankruptcy or liquidation, the Deal Pipleine reported on Saturday. The book retailer’s market cap is only about $53 million, slightly more than the $42 [...]
Barnes & Noble Inc. and Borders Group Inc., the nation’s two largest brick-and-mortar book sellers, both posted quarterly losses Tuesday and forecast a difficult holiday season, saying competition from discount chains and online retailers is stiffening.
Barnes & Noble, the larger of the two, also cut its forecast for annual profit, and shares of both retailers [...]
In the floundering economy, major book retailing companies, such as Borders, have been finding it hard to increase revenue, pay off loans, and still focus on growing as a company. Book sales are down and product costs are up. Thanks to negotiations with Pershing Square, however, Borders will be allowed a lengthy 12-month respite in [...]
Borders announced yesterday that they have extended the deadline by one month on both the repayment of their $42.5 million senior secured term loan to Pershing Square, as well as the “put” to require Pershing to purchase their Paperchase subsidiary for $65 million. Both deadlines have been extended to February 16. In late November when [...]
Borders announced yesterday that they have extended the deadline by one month on both the repayment of their $42.5 million senior secured term loan to Pershing Square, as well as the “put” to require Pershing to purchase their Paperchase subsidiary for $65 million. Both deadlines have been extended to February 16. In late November when [...]