The company will open a total of 14 new "concept stores," which include a number of technological improvements and a smaller reliance on music retailing. The first opened in Ann Arbor in February, with "substantially" all to open in the first half.
"The concept store is one of the key planks in our strategic plan," said George L. Jones, president and CEO. "We're really thrilled by how customers are responding to this."
A day earlier, Borders launched its new e-commerce site, now independent after a seven-year partnership with Amazon.com, which also showed numbers, said Edward W. Wilhelm, executive VP and CFO.
"Sales and profits will all go to Borders," Wilhelm said.
Total consolidated sales were $784.7 million, down 1% over a year ago. At domestic superstores, comparable-store sales for the period decreased 4.1%. Without the impact of music (a staggering 25.8% decline), same-store sales at Borders domestic superstores decreased by 1.7% for the quarter. Waldenbooks comp sales decreased by 0.8% over the same period a year ago. Same-store sales in the international segment rose 3.1%. The first quarter loss from continuing operations was $31.7 million, compared to $29.1 million a year ago.
Borders Group, Inc. operates more than 1,100 stores worldwide.
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