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Borders sees improvement in 2Q


ANN ARBOR, Mich. Borders Group reported a second quarter loss from continuing operations of $11.3 million or 19 cents per share, which represents an improvement over the same period last year when Borders Group recorded a loss of $18.1 million or 31 cents per share. On an earnings per share basis, this represents an improvement of 38.7%.

Total consolidated sales from continuing operations in the second quarter, at $749.2 million, were down 6.9% over a year ago. At Borders domestic superstores, comparable-store sales for the second quarter decreased by 8.9%, a result significantly impacted by comparison to the same period last year when the final book in the Harry Potter series was released, the company reported.

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