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Borders Reports a $74.4 Million Loss in Q3

Borders.GIFBorders Group reported that third quarter sales had decreased 17.6 percent compared to the same period last year; sales totaled $470.9 million for the quarter.

The company also noted a third quarter loss of $74.4 million. The company incurred a $37.7 million loss during the same period last year. In good news, the digital and kids toys and games category noted a 6.6 percent increase for the quarter. These results came the same week as a Borders investor suggested a merger between Barnes & Noble and Borders.

Borders CEO Mike Edwards had this statement: “Our third quarter results reflect the business challenges facing Borders and the industry at large … While we are disappointed with third quarter results, my management team and I continue to vigorously address these challenges and our commitment to winning at retail is stronger than ever.”

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