Borders Hits Store-Opening Goal

ANN ARBOR, MI-Borders Group’s new store openings for this year are essentially complete, as the company has cut capital expenditures to focus on strengthening its bottom line. But it will expand its new web site in-store, executives said at the company’s second quarter conference call.

All but one of 14 new superstores (including two relocations) planned for this year have opened, said Ed Wilhelm, senior VP and CFO. All are in the company’s new concept, which reduces the space allocated to music, giving that space to children’s and bargain books.

“We continue to be very pleased with the performance of our new concept stores,” Wilhelm said. “We will be applying what we learn from these to the rest of the chain where appropriate.”