Monday, January 25, 2010
Outlook for Waldenbooks / Borders is Bleak
2009 Store closures: 110 (Q4 2008 to Q3 2009)
Outook: Amazon.com continues to wreak havoc on traditional booksellers. The Borders unit says it will close an estimated 200 stores during the three months ending January 31, for a total of roughly 300 Waldenbooks stores over the past 13 months, close to 70 percent of all outlets. Retail analysts at Davidowitz & Associates give Borders Group, plagued with losses three years running, a 50-50 chance of survival.