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Borders and Barnes & Noble Both Post Gains in 3d Quarter

Borders Group had an increase of 5.3% in revenues at same store sales for the third quarter. Barnes and Noble had comparable revenue increase of 5.7%.

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.

Via PublishersWeekly.

Jane Litte is the founder of Dear Author, a lawyer, and a lover of pencil skirts. She spends her downtime reading romances and writing about them. Her TBR pile is much larger than the one shown in the picture and not as pretty. You can reach Jane by email at jane @ dearauthor dot com

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