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Borders Shrinks Q1 Loss

28 May, 2008 By: Billy Gil

Borders Group posted a loss of $31.7 million in the three months ended May 3, compared to a loss of $35.9 million in the same period last year. Meanwhile same-store sales continued to drop, down 4.1% from the same period last year, driven largely by the impact of failing music sales. Borders May 27 reopened its online store, Borders.com, separate from former partner Amazon.com, and has said it expects the site to, at minimum, break even this year and be profitable by 2009.

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