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These excerpts taken from the BGP 10-K filed Apr 1, 2009. Sales
Consolidated sales decreased $313.0 million, or 8.8%, to
$3,242.1 million in 2008 from $3,555.1 million in
2007. This resulted from decreased sales in all segments.
Comparable store sales measures include stores open more than
one year, with new stores included in the calculation upon their
13th month of operation. Comparable store sales measures
for Waldenbooks Specialty Retail include our mall-based seasonal
businesses.
Comparable store sales for Borders Superstores decreased 10.8%
in 2008. This was primarily due to a significant decline in
customer traffic that began in September 2008 and continued
through the fourth quarter, as well as the 2007 release of the
final book in the Harry Potter series. These items both
contributed to negative comparable store sales in trade books of
8.2%. Also contributing to the decline in comparable store sales
were decreased comparable store sales in the multimedia
categories, primarily due to continuing negative sales trends of
the CD and DVD formats and the planned reduction in inventory
and floor space devoted to the category. Partially offsetting
these declines were positive comparable store sales in gifts and
stationery. These items contributed to a comparable store sales
decline in non-book categories of 16.1% in 2008. Also, on a
comparable store basis, transactions decreased by 7.0% and
transaction dollars decreased by 4.1%. The impact of price
changes on comparable store sales was not significant.
Waldenbooks Specialty Retail’s comparable store sales
decreased 5.1% in 2008, also primarily due to a significant
decline in customer traffic that began in September 2008 and
continued through the fourth quarter, as well as the 2007
release of the final book in the Harry Potter series. Also, on a
comparable store
Table of Contents
sales basis, transactions decreased by 4.2% and transaction
dollars decreased by 0.8%. The impact of price changes on
comparable store sales was not significant.
Sales
Consolidated sales increased $22.8 million, or 0.6%, to
$3,555.1 million in 2007 from $3,532.3 million in
2006. This resulted primarily from increased sales in the
Borders segment, due to increased comparable store sales and the
opening of new superstores. Partially offsetting this increase
was a decrease in sales of the Waldenbooks Specialty Retail
segment, due primarily to store closures, partially offset by
increased comparable store sales. Excluding the extra week in
fiscal 2006, sales would have increased 2.5%.
Comparable store sales measures include stores open more than
one year, with new stores included in the calculation upon their
13th month of operation. Comparable store sales measures
for Waldenbooks Specialty Retail include our mall-based seasonal
businesses. The calculation of 2007 comparable store sales
increases assume that 2007 and 2006 consisted of 52 weeks.
Comparable store sales for Borders Superstores increased 1.5% in
2007. The comparable store sales increase for 2007 was due
primarily to positive comparable store sales in the book
category of 3.2%, including strong sales of the final Harry
Potter title, as well as increased comparable store sales in
Seattle’s Best Coffee cafes and Paperchase gifts and
stationery shops of 13.3% and 10.0%, respectively. Also, on a
comparable store basis, transactions increased by 1.0% for the
year. Comparable store sales in the music category continued to
decline with negative comparable store sales of 14.2% for the
year. The impact of price changes on comparable store sales was
not significant.
Waldenbooks Specialty Retail’s comparable store sales
increased 2.2% in 2007. The comparable store sales increase was
driven by increased transaction size of 2.4% while transaction
count declined by 0.2%. The impact of price changes on
comparable store sales was not significant.
Sales
Borders Superstore sales decreased $221.8 million, or 7.8%,
to $2,625.4 million in 2008 from $2,847.2 million in
2007. This decrease was driven by declining comparable store
sales of $303.4 million, partially offset by
Table of Contents
non-comparable sales of $35.9 million associated with 2008
and 2007 store openings, and Borders.com sales of
$45.7 million in 2008.
Sales Consolidated sales decreased $313.0 million, or 8.8%, to $3,242.1 million in 2008 from $3,555.1 million in 2007. This resulted from decreased sales in all segments. Comparable store sales measures include stores open more than one year, with new stores included in the calculation upon their 13th month of operation. Comparable store sales measures for Waldenbooks Specialty Retail include our mall-based seasonal businesses. Comparable store sales for Borders Superstores decreased 10.8% in 2008. This was primarily due to a significant decline in customer traffic that began in September 2008 and continued through the fourth quarter, as well as the 2007 release of the final book in the Harry Potter series. These items both contributed to negative comparable store sales in trade books of 8.2%. Also contributing to the decline in comparable store sales were decreased comparable store sales in the multimedia categories, primarily due to continuing negative sales trends of the CD and DVD formats and the planned reduction in inventory and floor space devoted to the category. Partially offsetting these declines were positive comparable store sales in gifts and stationery. These items contributed to a comparable store sales decline in non-book categories of 16.1% in 2008. Also, on a comparable store basis, transactions decreased by 7.0% and transaction dollars decreased by 4.1%. The impact of price changes on comparable store sales was not significant. Waldenbooks Specialty Retail’s comparable store sales decreased 5.1% in 2008, also primarily due to a significant decline in customer traffic that began in September 2008 and continued through the fourth quarter, as well as the 2007 release of the final book in the Harry Potter series. Also, on a comparable store
Table of Contentssales basis, transactions decreased by 4.2% and transaction dollars decreased by 0.8%. The impact of price changes on comparable store sales was not significant. Sales
Borders Superstore sales increased $97.2 million, or 3.5%,
to $2,847.2 million in 2007 from $2,750.0 million in
2006. This increase was comprised of non-comparable sales of
$56.2 million, associated with 2007 and 2006 store
openings, and comparable store sales increases of
$41.0 million. Excluding the impact of the extra week in
fiscal 2006, sales would have increased by 5.3%.
Sales Consolidated sales increased $22.8 million, or 0.6%, to $3,555.1 million in 2007 from $3,532.3 million in 2006. This resulted primarily from increased sales in the Borders segment, due to increased comparable store sales and the opening of new superstores. Partially offsetting this increase was a decrease in sales of the Waldenbooks Specialty Retail segment, due primarily to store closures, partially offset by increased comparable store sales. Excluding the extra week in fiscal 2006, sales would have increased 2.5%. Comparable store sales measures include stores open more than one year, with new stores included in the calculation upon their 13th month of operation. Comparable store sales measures for Waldenbooks Specialty Retail include our mall-based seasonal businesses. The calculation of 2007 comparable store sales increases assume that 2007 and 2006 consisted of 52 weeks. Comparable store sales for Borders Superstores increased 1.5% in 2007. The comparable store sales increase for 2007 was due primarily to positive comparable store sales in the book category of 3.2%, including strong sales of the final Harry Potter title, as well as increased comparable store sales in Seattle’s Best Coffee cafes and Paperchase gifts and stationery shops of 13.3% and 10.0%, respectively. Also, on a comparable store basis, transactions increased by 1.0% for the year. Comparable store sales in the music category continued to decline with negative comparable store sales of 14.2% for the year. The impact of price changes on comparable store sales was not significant. Waldenbooks Specialty Retail’s comparable store sales increased 2.2% in 2007. The comparable store sales increase was driven by increased transaction size of 2.4% while transaction count declined by 0.2%. The impact of price changes on comparable store sales was not significant. Sales
Waldenbooks Specialty Retail sales decreased $82.8 million,
or 14.7%, to $480.0 million in 2008 from
$562.8 million in 2007. This was comprised of decreased
non-comparable store sales associated with 2008 and 2007 store
closings of $57.7 million and decreased comparable store
sales of $25.1 million.
Sales
Waldenbooks Specialty Retail sales decreased
$101.1 million, or 15.2%, to $562.8 million in 2007
from $663.9 million in 2006. This was comprised of
decreased non-comparable sales of $112.8 million associated
with 2007 and 2006 store closings, partially offset by
comparable store sales increases of $11.7 million.
Excluding the impact of the extra week in fiscal 2006, sales
would have decreased by 14.1%.
Sales Borders Superstore sales decreased $221.8 million, or 7.8%, to $2,625.4 million in 2008 from $2,847.2 million in 2007. This decrease was driven by declining comparable store sales of $303.4 million, partially offset by
Table of Contentsnon-comparable sales of $35.9 million associated with 2008 and 2007 store openings, and Borders.com sales of $45.7 million in 2008. Sales Borders Superstore sales increased $97.2 million, or 3.5%, to $2,847.2 million in 2007 from $2,750.0 million in 2006. This increase was comprised of non-comparable sales of $56.2 million, associated with 2007 and 2006 store openings, and comparable store sales increases of $41.0 million. Excluding the impact of the extra week in fiscal 2006, sales would have increased by 5.3%. Sales Waldenbooks Specialty Retail sales decreased $82.8 million, or 14.7%, to $480.0 million in 2008 from $562.8 million in 2007. This was comprised of decreased non-comparable store sales associated with 2008 and 2007 store closings of $57.7 million and decreased comparable store sales of $25.1 million. Sales Waldenbooks Specialty Retail sales decreased $101.1 million, or 15.2%, to $562.8 million in 2007 from $663.9 million in 2006. This was comprised of decreased non-comparable sales of $112.8 million associated with 2007 and 2006 store closings, partially offset by comparable store sales increases of $11.7 million. Excluding the impact of the extra week in fiscal 2006, sales would have decreased by 14.1%. | EXCERPTS ON THIS PAGE:
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