BORDERS GROUP INC

BORDERS GROUP INC

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Company Overview
Borders Group Inc., based in Ann Arbor, Michigan, is an international bookseller engaged in the operation of book and music store chains. The company was founded in 1971 by brothers Tom and Louis Borders. It is a Fortune 500 company, and is the second-largest bookstore chain in the United States as of 2005. Furthermore, the company changed its name from Borders-Walden Group to Borders Group, Inc. in 1995 and goes public through an initial public offering.
Borders Group offers a wide variety of books, CDs, DVDs, periodicals, as well as gifts and stationery with up to 200,000 titles to choose from. Through its subsidiaries, Borders Group operates more than 1,200 stores around the world. These includes 567 superstores under the Borders name, including 499 in the United States, 41 in the United Kingdom, 20 in Australia, three in Puerto Rico, two in New Zealand, and one each in Singapore and Ireland. Furthermore, it also operates 564 mall-based and other bookstores under the Waldenbooks name in the United States and 30 bookstores under the Books etc. name in the United Kingdom.
Borders Group has established strategic partnership with Amazon.com in offering a vast online selection. In 2007, the company announced its plan to launch its own proprietary e-commerce web site in early 2008. the company aims to create richer, more satisfying lives through knowledge and entertainment.
The company’s signature loyalty program, Borders Rewards, allows members to earn rewards as they shop with Borders’ stores, and enjoy exclusive savings.
Business Summary
Borders Group, Inc. (Borders) is an operator of book, music and movie superstores and mall-based bookstores. As of January 30, 2010, Borders operated 511 superstores under the Borders name, including 508 in the United States and three in Puerto Rico. It also operated 175 mall-based and other small format bookstores, including stores operated under the Waldenbooks, Borders Express and Borders Outlet names, as well as 29 Borders-branded airport stores. It has three segments: Borders Superstores, Waldenbooks Specialty Retail stores and International stores. In July 2010, the Company sold Paperchase Products Limited to Primary Capital Limited.
Description and history
Borders Group, Inc. (Borders) is an operator of book, music and movie superstores and mall-based bookstores. As of January 30, 2010, Borders operated 511 superstores under the Borders name, including 508 in the United States and three in Puerto Rico. It also operated 175 mall-based and other small format bookstores, including stores operated under the Waldenbooks, Borders Express and Borders Outlet names, as well as 29 Borders-branded airport stores. It has three segments: Borders Superstores, Waldenbooks Specialty Retail stores and International stores. In July 2010, the Company sold Paperchase Products Limited to Primary Capital Limited.

Borders Superstores

Borders superstores offer customers an assortment of books, music and movies, gifts and stationery, customer service and browsing. Borders superstores average 24,800 square feet in size and on average, carry 82,000 book titles, with individual store selections ranging from 53,000 titles to 141,000 titles, across various categories, including many titles.

Waldenbooks Specialty Retail Stores

Waldenbooks Specialty Retail operates small format stores in malls, airports and outlet malls, offering customers a source for new releases, hardcover and paperback bestsellers, periodicals and a standard selection of other titles. Waldenbooks Specialty Retail operates stores under the Waldenbooks, Borders Express and Borders Outlet names, as well as Borders-branded airport stores and the mall-based seasonal businesses. Waldenbooks Specialty Retail stores average approximately 1,300 square feet in size, and carry an average of 13,500 titles, ranging from 5,500 in airport stores to 19,000 in format stores.

International Stores

International stores include three Borders superstores in Puerto Rico and the Paperchase United Kingdom business. Paperchase is a stationery retailing in the United Kingdom. As of January 30, 2010, the Company operated 85 Paperchase locations, including 51 stand-alone stores, 27 concessions in the stores of other retailers, and seven stores located in railway stations. The Paperchase’s merchandise is developed specifically by and for Paperchase.

Founded by brothers Tom and Louis Borders; Formerly known as Borders-Walden Group

Business Line
Operation of book and music store chains
Subsidiary
BGI (UK)
Advisor
ERNST & YOUNG LLP
IPO date
5/1995
US SIC Code
5942
Company Address
100, Phoenix Drive

City province or state postal code
48108, ANN ARBOR, MI
Phone: +1 734 477 1100
Fax: +1 734 477 4538
Country address: UNITED STATES OF AMERICA
Website url: www.bordersgroupinc.com