Borders Experiences Another Chapter Of Continued Losses

Borders better start selling those Kobo e-readers. The beleaguered bookseller posted yet another loss in holiday sales, this time a 14 percent drop for 2009.

Ron Marshall, the CEO of Borders Group, which also owns the Waldenbooks brand that’s slowly dying at a mall near you, announced that the chain would be focusing more on higher-margin items such as children’s books and avoiding music and video products. He also delivered the CEO-worthy observational nugget that the brand, "must intensify our focus on creating and delivering a shopping experience that delivers profitable sales."

Well, duh.Continue reading...