Border's climbs 25% on narrowed Q2 loss
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.
About the Author
Contributing author Mary Ann Azevedo has more than 13 years of writing and editing experience that includes coverage of a broad range of companies.
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