Borders and Barnes & Noble Both Post Gains in 3d Quarter
Book sales were up 3.1% but music sales had a 13.1% decline at Borders. The gains were said to be as a result of increase in store traffic as there was a 2.8% increase in the number of transactions. The number of discounts to Borders Rewards members may be increasing traffic but the individual transaction was not increasing. Therefore CEO George Jones anticipates that Borders will reduce the discounts in the future.
Barnes and Noble believes that the increased revenue comes from sales of new releases and bestsellers and better than forecasted margins.