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RETAILER NEWS

Borders Group reported a $35.9 million loss for its first quarter ended May 5, a big jump from the $20.2 million for the same period last year. The retailer cited slow sales of books and music for the loss. Borders said the loss came despite same-store sales gains in stationery, DVD and gifts. Borders ceo George Jones stated results were in line with internal expecations.

Best Buy plans to begin the full rollout of its Best Buy Mobile stores in July. The company plans to open up to 180 stores during the next year, including 170 inside stores and 10 stand-alone locations in major metropolitan areas including Boston, Chicago and Minneapolis, where the company is headquartered. The concept, which debuted in New York City last year and now has 13 locations there, offers an expanded assortment of phones, accessories and services for most major cell phone service providers.

Dell announced that it is going to lay off about 8,800 employees—representing close to 10% of its work force—over the next 12 months. Dell has been hit with slumping sales in desktop computers, which fell 4% to $4.9 billion in revenue in its first quarter.