- Increased sales 6.5% to $2.5 billion
- Opened 41 new Borders superstores
- Achieved double-digit sales gains in DVDs, and gifts and stationery
- Streamlined product-handling process, reducing costs and time-to-floor
- Rolled out category management initiative throughout 70% of the store
- Launched new store design prototype aimed at enhancing the shopping environment and top-line growth
- Plan to open 18 to 20 new stores, and remodel approximately 40 to 50 existing stores in 2004
- Expect to grow sales and net income in 2004
- Achieved full-year segment profitability
- Increased sales 29.4% to $407.5 million
- Significantly improved gross margins and reduced SG&A
- Recorded net income of $0.1 million, reversing a net loss of $12.3 million the previous year
- Increased cafe and stationery sales by teaming with major brands
- Opened seven new Borders superstores and one Books etc. store
- Plan to open approximately six to eight new stores in 2004
- Expect to grow sales and net income in 2004
- Increased net income 18.4% to $49.0 million
- Grew comparable store sales in second, third and fourth quarters
- Introduced new categories into selected stores, including gifts, sundries and hot-selling DVDs
- Successfully implemented first wave of Category Management modeled on the success of Borders
- Reduced occupancy costs on lease renewals
- Increased inventory turns and reduced cost of inventory management
- Expanded seasonal business opportunities and kiosk sales
- Opened four new airport stores and five new Borders Outlet stores in 2003
- Plan to open approximately five to 10 new airport stores and an equal number of Borders Outlet stores in 2004
- Expect to grow net income in 2004