Borders Group, Inc. (BGP) said Monday that total consolidated sales for the 11-week holiday period ended January 16 were $846.8 million, a 13.7% decrease compared to the same period last year.
Within the Borders superstore segment, total sales for the period fell 14.7% year-over-year to $649.2 million. Same-store sales at Borders superstores declined 14.6%.
The company said it reduced promotional spending in December, and as a result, gross margins for the month improved 130 basis points compared to a year ago.
Within the Waldenbooks Specialty Retail segment, total sales for the holiday period dropped 14.6% to $153.2 million. Same-store sales for Waldenbooks stores that will remain open beyond the end of this month declined 9.4%.
Excluding currency impact, total International segment sales for the period fell 8.7% to $44.4 million. Same-store sales at Paperchase stores outside the U.S. increased by 10.1% for the period.
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