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Borders disappoints in Q3
Ann Arbor, Mich. -- Borders Group posted sales of $470.9 million for its third quarter ended Oct. 30, a decrease of 17.6% from the same period a year ago. Same-store sales declined by 12.6%.
The company posted a loss from continuing operations in the third quarter of $74.4 million, versus a loss $37.7 million a year ago.
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Home Depot raises 2010 guidance; 10 new stores planned for 2011
New York City -- Home Depot on Wednesday slightly raised its fiscal 2010 earnings guidance for the second time in two months as the market for home-improvement projects slowly begins to improve. The retailer plans to open 10 stores in 2011, and has budgeted $1.3 billion in capital expenditures. and about $2.5 billion on share repurchases.
The retailer now expects net income from continuing operations to be $1.97 per share, up from prior guidance of $1.94 per share. Analysts polled by Thomson Reuters, on average, also predict $1.94 per share.