CEO says Borders "disappointed" with holiday results

01/18/2010 | Wall Street Journal, The

Ron Marshall, chief executive officer at Borders Group, said the company was "disappointed" in a significant drop in same-store sales and revenue for the 11 weeks that ended Jan. 16. Borders' results underscore the difficulty traditional book retailers are having in trying to compete against online retailers. "We're making progress on the e-book front, and on the online front, but we have to continue focusing on driving more traffic to the stores," said Mark Bierley, chief financial officer. "Every book and nonbook product is being reviewed to make sure that we've got the right assortments in our stores."

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