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The demise of Borders bookstore

Robert said:
I think Borders tries to be too many things for too many people. Movies and music take up a good bit of floor space. I think once you add the floor space used by the coffee shop and the little odd and ends they carry, a relatively small percentage of floor space is actually used for books.
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This may be true for some bookstores, but one of my favorite bookstores is Hastings. They have all of the above, but their book section is the same size as their music section which is the same size as their movie section. However, I do not like Borders as I think that most of their layouts are too "open." It seems like a lot of shelf space is used for the best sellers of the month and the "popular" books and not the "out-of-the-way" books that most avid readers seem to look for.
 
This is very interesting. Thanks for posting it, Hugh.

I'm glad to see them cut high level positions.

I wonder if they have given any thought to lowering the cost of books a little to make them more affordable?
 
I can offer Robert a way to get cheaper books from Borders. Go to borders.com/online/store/BRLandingView and create an account and login. As you purchase items from them they will email you cupons for further purchases. Cupons are typically between 20 - 25% and around the holidays they can go as high as 80% off. Borders tends to be cupon happy, meaning they tend to hand out an extrodinarily lot of cupons through out the year. I know that 20 - 25% is not realy enough to get your attention but at least its something.
 
Does anyone remember Media Play? We used to have that chain up in the Niagara Falls, NY area. It was essentially a book/ CD/ movie store. When I was a kid, they had a good selection of books, but they gradually reduced their book selection to the absolute bare minimum in favor of increasing its stock of CDs. Last I heard, it was going out of business...
 
Just came back from a rare visit to my local Borders. The staff was very noticeably more sparse. I asked about it. Still the same number of staff but hours have been cut back -- considerably I would say. The place was like a desert.
 
Peder said:
Just came back from a rare visit to my local Borders. The staff was very noticeably more sparse. I asked about it. Still the same number of staff but hours have been cut back -- considerably I would say. The place was like a desert.
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Our local Borders is always busy. It must be the location. I know the store in Crystal City has given up what looks to be about 1/3 of their floor space. If you want to buy fiction, you have to order it at a terminal and pick it up at the register.
 
Robert said:
If you want to buy fiction, you have to order it at a terminal and pick it up at the register.
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You mean during the same visit, or another day?
Either way, fascinating. Ours still has fiction on display but it seems to be much less, now that you mention.
 
Peder said:
You mean during the same visit, or another day?
Either way, fascinating. Ours still has fiction on display but it seems to be much less, now that you mention.
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The same visit if it's in stock. They must have a storeroom or some boxes under the counter.

It's fun at the local store because they have a lot of books on sale and fresh stock is not uncommon. I often wonder if those books come from other stores that aren't doing as well.
 
Just finished reading this article:

Twelve Major Brands That Will Disappear - 24/7 Wall Street

2. Borders (BGP) has struggled for several years as the No.2 operator of book store behind Barnes & Noble. When Border’s released its last set of earnings it said it would cut the number of Waldendbooks stores from about 300 to 50 or 60. With Border’s losses, that won’t be enough. The pressure from online book operations led by Amazon (AMZN) and new e-book readers is overwhelming Borders. In the fourth quarter of last year, sales at Border’s branded stores dropped 15.3%. For the full year 2008, Borders lost $157 million on revenue of $2.8 billion. Borders recently extended its $42.5 million senior secured term loan with Pershing Square Capital Management, moving the due date to April 1, 2010. That may be the day that Borders goes away. Border’s shares trade at $1.47, down from a 52-week high of $8.02.
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