Borders Group Inc. (NYSE:BGP) gained a quarter of its value this morning after reporting a narrower-than-expected second-quarter loss.

The Ann Arbor, Mich.-based book retailer said it lost $11.3 million, or $0.19 per share, for the quarter ended Aug. 2, compared with a loss of $18.1 million, or $0.31 per share, in the same period last year.

Analysts polled by Thomson First Call were expecting a loss of $0.29.

The company cited a focus on expense reduction, inventory management and improved gross margin for the results.

By mid-morning, Borders is at $6.68, up $1.32 from Tuesday's close. The stock has traded as low as $3.87 and as high as $16.62 during the past 52 weeks.

For detailed price information and news stories on Border's click BGP.