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Borders to divest calendar kiosk business
Ann Arbor, Mich. -- Borders Group said Monday that it is selling its kiosk business Day by Day Calendar Co. for an undisclosed sum.
The sale involves 420 kiosk retail outlets, which will be purchased by Calendar Holdings LLC, based in Texas.
According to the Detroit News, the sale could provide Borders with cash while the company works with creditors to restructure its debt. -
Tuesday Morning quarterly profits down
DALLAS -- Tuesday Morning reported that net income for the quarter ended Dec. 31 was $17.3 million, compared with $18.5 million in the year-ago period.
Net sales decreased 3.6% to $279.3 million from $289.6 million. Same-store sales decreased 3.2%.
According to Kathleen Mason, president and CEO: "We anticipate that we will return to positive comparable sales for the remainder of the fiscal year.” Tuesday Morning reported four consecutive quarters of same-store sales growth prior to the second quarter.