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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Berkeley Scot | LSE:BGP | London | Ordinary Share | GB00B03W5P29 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.59 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Borders Group Inc.'s (BGP) fiscal second-quarter loss widened sharply on restructuring charges as the bookseller made operational changes that hurt short-term sales.
The second-largest bookstore chain in the U.S. behind Barnes & Noble Inc. (BKS) has cut its inventory and capital expenditures because of weak consumer spending. But Chief Executive Ron Marshall won't put all the blame on recession, saying he has "a laundry list" of changes to make, like more promotions and crisper in-store operations.
Marshall said Tuesday that the most recent period was one of transition as the company made big changes in reducing space and inventory, which he said hurt sales in the short-term.
For the quarter ended Aug. 1, the company posted a loss of $45.6 million, or 76 a share, compared with a loss of $9.2 million, or 19 cents a share, a year earlier. The latest results included 55 cents per share in restructuring and other charges.
Revenue decreased 18% to $624.7 million. Same-store sales at U.S. Borders superstores decreased 17%, while the figure fell 23% at the mall-based Waldenbooks segment, which the company has been shrinking. International sales rose 10% excluding currency changes.
Gross margin fell to 22.9% from 24%.
Borders shares closed Monday at $3.70. The stock has soared from its Christmas Eve low of 34 cents but remains 30% below prior-year levels.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com
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