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Borders Group reports Q3 results

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US book chain Borders Group Inc (NYSE:BGP) has reported financial results for its fiscal third quarter, the three months ended 22 October 2005.

Total consolidated sales for the quarter amounted to USD837.2m, an increase of 0.5% from USD833.3m in the same period in 2004.

The group recorded a net loss of USD14.1m or USD0.20 per share for the three-month period, against a net loss of USD1.1m or USD0.01 per share for the third quarter of 2004.

The quarterly loss per share was said to be consistent with the company's most recent financial projections.

Book sales continued to perform well at US superstores during the third quarter, but overall sales trends were challenging and coincided with major investments in store remodelling, said the CEO of Borders Group, Greg Josefowicz.

(C)2000-2005 M2 Communications Ltd

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