Nov
21
2007
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.
