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Wal-Mart to close Moscow office
Bentonville, Ark. - Wal-Mart Stores Inc. is closing its Moscow office but said it is still interested in the Russian market.
The retailer said Monday that it has been looking to enter the Russian market through an acquisition, but has not found a near-term opportunity so it does not need the Moscow office at this time.
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Industry challenges take toll on Borders' Q3
ANN ARBOR, Mich. - Borders Group reported that sales for the third quarter were $470.9 million, which is a decrease of 17.6% from the same period a year ago. On a comparable-store sales basis, sales declined 12.6%, driven primarily by the adult trade category, according to the company. Sales were also negatively impacted by Borders.com, which saw a third quarter decrease of 8.6% over the prior year to $12.5 million.