InsideMobileApps InsideSocialGames 10,000 Words FishbowlNY FishbowlDC LostRemote TVNewser TVSpy AgencySpy PRNewser MediaJobsDaily UnBeige

Borders May Close Hundreds of Waldenbooks Stores

308.jpegIn a conference call with investors, Borders Group CEO Rob Marshall said the company is considering reducing the 300 Waldenbooks stores around the country to just 50 or 60 stores eventually. Click here for an update on this post.

According to Yahoo News, this was the first time the CEO spoke with investors since he took the job in January. The news followed a near 13 percent drop in total sales last quarter.

Here’s more from the article: “His comments came a day after Borders posted a 57 percent drop in quarterly earnings, though that was not as bad as analysts had expected … The company plans to cut expenses by $120 million in the current fiscal year, compared with a year earlier.” (Via Publishers Weekly)

Mediabistro Course

Writing Outside the Mainstream

Writing Outside the MainstreamStarting September 18, build your freelance career in African-American, Latino, or LGBT publications! Using a combination of writing exercises and targeted research, you'll learn how to generate salable story ideas, write pitches, build relationships with editors, and position yourself as an authority in your market. Register now!