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Focus on holiday, digital offering
Borders Group Inc.’s (Ann Arbor, Mich.) results for its second quarter ended July 31, 2010, show second quarter sales dropped 11.5 percent to $526.1 million. Same-store sales decline 6.8 percent. Online sales, however, grew 56.2 percent to $15.5
"While we continue to succeed in strengthening our financial structure, we are highly focused on driving profitable sales and increasing market share," says ceo Mike Edwards.
In anticipation of the upcoming holiday season, the book seller has launched a new Borders Rewards program, which includes the new paid Borders Rewards Plus. The company says it’s also focused on increasing our share of the eBook market by growing our digital offerings.
“Yet as we grow our online and digital business, we cannot underestimate the importance of our brick and mortar presence,” says Edwards. “This will be top of mind as we work on improving the in-store experience by shifting our product mix to include additional non-book products that are both compelling and relevant, and providing an escape for our customers though an inspirational in-store environment and consistent customer service."
The company operates under the Borders and Waldenbooks banners.
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