Borders Is Reducing Debt & Revamping Stores
Borders sent out a press release updating the world on its improved financial status. It has reduced debt by 44.9% by the end of the first quarter even though sales were down by 12.1%. Read more at Personanodata.
The new CEO, Ron Marshall, plans further changes to Borders stores, increasing the children’s section and focusing on cooking and health section while reducing or eliminating the music and movies. Further changes include ordering only two weeks worth of books at a time instead of the normal twelve week supply. This will wreak havoc with print runs at publishing houses as the publishers rely on orders in determining how many books to print initially.