Stores in Gulfport, Miss., and Lafayette, La. have re-opened and a spokesman for the company said that other affected stores are scheduled to re-open over the weekend. Publishers Weekly (Sept. 5, 2008)
The bookseller’s stock also rose on news that its second-quarter loss from continuing operations dropped to $11.3 million, or 19 cents a share, from $18.1 million, or 31 cents per share. The New York Times (Aug. 26, 2008)
The bookseller was up against a tough comparisons with last July’s release of the final installment in the “Harry Potter” series. Despite the drop, B&N beat analysts’ expectations. The Wall Street Journal (Aug. 21, 2008) Paid subscription may be required.
According to a story in the Wall Street Journal, Barnes & Noble Inc. has decided not to pursue an acquisition of number two book seller Borders Group, Inc. Concerns about the length of some of Borders’ store leases was reportedly one of the reasons for B&N’s decision. Reuters (Aug. 14, 2008)
Bob Gremillion has been named interim publisher for the Chicago Tribune. Gremillion expects to hold the job for a couple of months maximum and said that he would decline a permanent job if offered. E and P (June 29, 2008)
The Books Category Manager for Border’s (U.K.) Caroline Mileham, claims “One of the first things I did when I came over was reduce our rate card [the co-operative marketing fees charged to publishers].”
thebookseller.com
Borders (U.K.) is set to try a new inventory management system at the end of June. A roll-out is planned for their 40 stores this autumn. Bookseller.com (June 18, 2008)
Borders Books, in conjuction with the United Kingdom’s Magazine Week (Sept 29 - Oct 5), will be the first ever British retailer to hold a price-based promotion on magazines. PPA News (June 5, 2008)
Borders Group Inc. today announced plans to reduce its corporate workforce by 20% or 275 positions, including more than 150 positions at its Ann Arbor, MI, headquarters. The cuts, which will not affect store personnel, are part of the retailer’s reduce annual expenses by $120 million. AP at Forbes The Wall Street Journal Paid subscription may [...]
Book publishers sold 3.13 billion units last year, up from 3.1 in 2006, although mass market, smaller size paperbacks (often thrillers and romances) are falling out of favor. Their sales dropped to 541.8 million copies, from 575.1 in 2006. The industry is gathering in Los Angeles today for the second day of BookExpo America, during a “…time [...]