Borders Loses More Money But Stock Rises

Borders, the Michigan based bookseller, continues to have economic trouble. With many customers moving to the online world, Borders bookstores aren’t seeing the amount of traffic they saw a few years ago. In their latest quarterly report, those struggles were obvious.

In their latest quarter, Borders lost more than $85 million. This time last year, Borders reported a quarterly loss of less than $32 million. More than doubling loss in one year is never good for a business. More bad news is that their revenue fell from $736 million last year to $650 million this year.

That said, industry experts were actually surprised that Borders did so well in their latest report. About $70 million of their quarterly loss was attributed to one-time charge. If you ignore that one-time charge, Borders easily beat most prediction.

As a result, Borders’ stock was up more than 10% after the announcement of their quarterly report.

Borders (Image: Flickr)