Although CEO Ron Marshall cited the economy as a factor he also said, “We have to be a more effective promotional retailer. Our in-store execution also has to be crisper.” The Wall Street Journal Paid subscription may be required. May 27, 2009
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)
Veteran book buyer Carla Bayha will assume responsibility for Borders’ magazine category on May 19th, as part of a re-shuffling of merchandising responsibilities announced earlier this month by Joanna Goldstein, director of merchandising – newsstand, calendars & games. Dawn Stymiest, who presently magages newsstand at BGI, is moving to a planning role within the retailer’s Children’s group. [...]
CEO George Jones said, “The overall holiday shopping environment was intensely promotional and impacted the bottom line more than we anticipated.” Borders Group Inc. reported a 3.9% increase in holiday sales, but predicted earnings would be flat or down slightly due to the heavy promotions. The Wall Street Journal Subscription required. (Jan. 10, 2008)