Further to last months posting, it seems that BORDERS BOOKS & MUSIC is the weakest link! This has been announced today:
'Borders books £9.75m loss. Book chain Borders said today that it had plunged to a near-£10 million loss over the second quarter as sales dipped four per cent to £453m.
The group, booked a loss of £9.75m, which was in line with analysts' expectations but was a major reversal from the £688,778 surplus it scored over the same quarter the year before. Like-for-like sales at its Borders superstores fell 5.3 per cent'
By comparison, current turnover at First Bookshop is up in excess of 50% compared to the same period last year.
UPDATE.....UPDATE.....UPDATE : 22nd March 2007
Due to continuing mounting losses, Borders have announced they are to pull out of the UK
Total losses for 2006 amounted to $150m - losses during the last quarter alone stood at $73m
They hope that a sale of the UK stores for around £50m should help to keep the business afloat in the US
