The Borders Group reported an 11.4% decline in store sales in the domestic segment in the first quarter of 2010 versus Q109.
The Wall Street Journal has the story here. An exerpt from WSJ: “Traffic in stores and average tickets fell during the quarter, contributing to declining sales that were also hurt by the company’s moves to narrow its music and movie selections. Borders has suffered mightily from dwindling sales as consumer spending slid in the recession and as more readers take to digital copies of books.”
EBooks to the rescue? The company is apparently hopeful that sales will rebound with the launch of their eBook store and mobile reading apps next month. RTTNews.com reports, “the company said that it is preparing to launch an eBook store and mobile apps powered by Kobo next month, and is on track to introduce ‘Area-e’ digital shops in August.”