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Borders Has 'Flattish' Q4

ANN ARBOR, MI-Comparable store sales increase by 2.5% at domestic Borders Group superstores in the fourth quarter.

By Dana Dubriwny | Updated on March 19, 2006

ANN ARBOR, MI-Calling it a “flattish book market,” Borders Group Inc. CEO Greg Josefowicz discussed the retailer’s listless fourth-quarter and year-end results during a conference call with investors Friday.

Driven by the retailer’s domestic superstore comparable store sales of 2.5% in the fourth quarter ended Jan. 28, year-over-year earnings per share were up nearly 10% posting at $1.78. For the full year, consolidated earnings per share were $1.42 compared to $1.69 earned in 2004.

Borders Group posted fourth-quarter consolidated sales of $1.45 billion, an increase of 6.3% compared to 2004. For the full-year 2005, consolidated sales were $4.03 billion, a 3.9% increase from the prior year.

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