Borders Group Swings to Loss in Quarter
From the Associated Press
Borders Group Inc. said it swung to a fiscal second-quarter loss on declining sales, and provided a weaker-than-expected outlook for the rest of the year.
For its second quarter ended July 29, the Ann Arbor, Mich.-based bookseller posted a loss of $18.4 million, or 29 cents a share, contrasted with a year-earlier profit of $1.3 million, or 2 cents. Revenue fell 4% to $866.3 million.
