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Books-A-Million to buy leases of 14 Borders stores
New York City -- A Wednesday report by Bloomberg said that Borders and Books-A-Million reached an agreement for a lease sale involved 14 Borders superstores and specialty stores for $934,209.
Citing documents filed Wednesday in U.S. Bankruptcy Court in Manhattan, the report said the store locations include Portland, Maine; Canton, Ohio; Concord, N.H.; and Mays Landing, N.J.
The agreement is conditional on approval by the bankruptcy court by Aug. 29. A deal for Books-A-Million to buy 30 Borders locations fell through in July.
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Express Q2 profit falls 43%, but beats Street
Columbus, Ohio -- Express reported Wednesday that profit for the second quarter fell 43% to $12.6 million, compared with $22.1 million in the year-ago period. Results still topped Wall Street expectations, and the company has upped it s forecast for the third quarter and full year.
Revenue rose nearly 10% to $446 million from $407.3 million, beating analysts' average forecast for $439.6 million in revenue. Same-store sales rose 6%.