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BUSINESS
4:26 pm
Thu December 9, 2010

Borders Books posts big 3rd quarter loss

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Credit (courtesy of Borders Group/photo credit: Laszlo Regos)
Even the fixtures within the new Borders Concept Store in Ann Arbor, Mich. have been redesigned to encourage customer exploration. Curved tables in the front of the store allow customers to move easily through the selection of spotlighted books.

Borders Books reported the company lost $74 million dollars in the 3rd quarter. That's about twice as much as Borders lost in the 3rd quarter of 2009. The Ann Arbor based book seller continues to struggle in a competitive market.

In a written statement, Borders Group CEO Mike Edwards conceded his company's struggles:

 "While we are disappointed with third quarter results, my management team and I continue to vigorously address these challenges and our commitment to winning at retail is stronger than ever."

Tags: 
BORDERS
Barnes & Noble
Ann Arbor
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