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Article: Borders Group Reports Q1 Results; Board of Directors Authorizes $150 Million Stock Repurchase Program; Q2 and Full Year Outlook In-Line with Analyst Consensus.
- Article from:
- Business Wire
- Article date:
- May 20, 2003
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Business Editors
ANN ARBOR, Mich.--(BUSINESS WIRE)--May 20, 2003
Borders Group Inc. (NYSE:BGP) today reported results for the fiscal first quarter of 2003, which ended April 27. Consolidated sales were approximately even with the prior year at $751.4 million while the company posted a net loss of $4.8 million or $0.06 cents per share for the period.
"We remain focused on managing our business from an expense and investment standpoint within a challenging sales environment," said Borders Group Chief Executive Officer Greg Josefowicz. "While we don't envision a dramatic sales recovery, today's trends reflect a modest improvement from the first ...