Losses widen at Borders

  • Associated Press
  • Tuesday, November 21, 2006 9:00pm
  • Business

ANN ARBOR, Mich. – Bookstore operator Borders Group Inc. on Tuesday said its third-quarter loss widened as same-store sales edged down.

Its loss for the quarter ended Oct. 28 totaled $39.1 million, or 64 cents per share, compared with a loss of $14.1 million, or 20 cents per share, during the same period last year, the company said after the close of regular trading on Wall Street.

Revenue rose 2 percent to $860.4 million from $845.8 million last year.

Analysts surveyed by Thomson Financial expected a loss of 64 cents on revenue of $838.9 million.

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